| University | Temasek Polytechnic (TP) |
| Subject | BCEC002: Business Economics |
BCEC002 Individual Assignment
This Individual Assignment contributes 35% of the final mark for BCEC002 Business Economics.
The report submission deadline is 23rd JAN, FRIDAY, 2026, 2359 hours.
Assignment Title: Economics in Practice – A Workplace Case Study
This assignment invites you to apply key economic principles to analyse your current workplace. Through this exercise, you will critically evaluate how concepts of:
- Central Economic Problem
- Demand and Supply
- Government Intervention
- Elasticity
- Output and Costs
- Market Structures,
are evident in your organization’s operations. Your task is to draw on real-world data and examples to craft an insightful analysis that demonstrates your understanding of these economic concepts and their application.
Assignment Objectives
- Apply economic concepts to a real-world workplace setting.
- Develop critical thinking and analysis skills.
- Demonstrate the ability to use data and evidence-based reasoning.
- Reflect on economic concepts’ relevance to business decision-making.
Instructions
- Prepare an assignment report of no more than 800 words, excluding tables and graphs. You are encouraged to be concise and detailed at the same time, which will showcase a good understanding of the concepts.
- Graphs are to be embedded into the reports at the relevant places. Show all workings and formulas. Round all calculated answers to 2 decimal places.
- Submit your assignment in LMS by the deadline of 23rd JAN, FRIDAY, 2026, 2359 hours.
- Submit your assignment report in PDF format and named the file using your NAME & ADMISSION NUMBER: For eg.
- Plagiarism is a serious offence. Your assignment report must be your original work.
- Your assignment report must begin with a cover page as shown in Appendix 1.
Assignment Questions
1. Central Economic Problem (12m)
a) Provide a brief background of your current workplace/company, past or present.
b) What resources of scarcity does the company face?
c) What were some choices does the company need to decide between?
d) What would the opportunity cost be for the company be?
2. Demand & Supply (24m)
a) Examine a specific product or service offered at your workplace. Analyse how the Demand and Supply of the product or service was affected by events in the market, and how the equilibrium price and equilibrium quantity was changed.
b) Please use at least ONE factor for Demand and ONE factor for Supply.
c) Do offer illustrations of graphs to support your explanations, and you are also encouraged to use real data or situations in your explanations.
3. Government Intervention & Price Controls (14m)
Assume you are the government, and you would like to either raise OR lower the current market price of a product or service offered at your workplace. Explain and illustrate what kind of Price Control you would implement and the possible outcome that would happen.
4. Elasticity (22m)
a) Examine the elasticity of a product or service at your workplace.
b) Analyse and explain whether the product/service has an Elastic or Inelastic price elasticity of demand. Discuss TWO reasons why and provide examples to support your explanations.
c) What can the company do to make the product more price inelastic?
d) Explain and illustrate what your workplace can consider to the price to increase the total revenue.
5. Output and Costs (18m)
a) State THREE fixed costs and THREE variable costs that your workplace has.
b) Assuming the company only has these fixed and variable costs, calculate the Average Total Cost of FIFTY units of production for a selected product or service. Please show all workings.
c) Explain how your workplace would face the law of diminishing marginal returns. Please relate the explanations to your current workplace in detail.
6. Market Structures (10m)
a) Identify the market structure that your company workplace operates in.
b) Justify your answer with the characteristics of identified market structure.
c) What does this mean for the pricing strategy of your company?
Struggling With BCEC002 Business Economics Assignment?
Native Singapore Writers Team
- 100% Plagiarism-Free Essay
- Highest Satisfaction Rate
- Free Revision
- On-Time Delivery
BCEC002 Marking Rubric
| Criteria | Weightage | Excellent
(80%-100%) |
Good (70%-79%) | Satisfactory (60%-69%) | Needs
Improvement (50%-59%) |
Did Not Meet
Requirements (<50%) |
| Application of Economic
Concepts |
35% | Demonstrates comprehensive
understanding and precise application of economic concepts. Includes accurate analysis, appropriate graphs, and calculations. |
Demonstrates a strong
understanding and mostly accurate application of economic concepts. Analysis and illustrations are relevant but lack depth. |
Shows a basic understanding of economic
concepts. Application is partially relevant but may include some inaccuracies or lack depth. Analysis and graphs are minimal. |
Demonstrates limited
understanding of economic concepts. Application is often inaccurate or incomplete. Lacks meaningful analysis or graphs. |
Does not demonstrate
understanding of economic concepts. Application is irrelevant or absent. Lacks analysis, graphs, and calculations. |
| Workplace
Relevance and Insights |
25% | Provides detailed, specific workplace examples. Insights
strongly connect theory and practice, showcasing critical awareness. |
Provides relevant workplace
examples with a reasonable connection between theory and practice. |
Offers workplace examples but relevance is
limited or lacks specificity. Connection between theory and practice is basic. |
Provides minimal or vague
workplace examples. Connection to theory is weak or unclear. |
No workplace examples
provided, or examples are entirely irrelevant. No connection to theory. |
| Critical
Thinking and Analysis |
20% | Demonstrates
high-level critical thinking with wellreasoned arguments, evaluation of perspectives, and logical conclusions. |
Demonstrates good critical
thinking with logical arguments and some evaluation but lacks depth in perspectives or complexity. |
Demonstrates basic critical thinking.
Arguments are present but lack strong support or evaluation of perspectives. |
Limited critical thinking.
Arguments are weak, simplistic, or lack support. Conclusions are unclear or illogical. |
No evidence of critical thinking. Arguments and conclusions are absent,
unsupported, or irrelevant. |
| Structure and Clarity | 10% | Exceptionally well-organized
with clear, logical flow. Transitions enhance readability. Grammar and spelling are flawless. |
Well-organized and mostly clear.
Minor issues with flow or grammar and spelling. |
Somewhat
organized, but clarity or flow is inconsistent. Grammar and spelling errors present but do not hinder understanding. |
Poorly organized with significant issues in flow,
clarity, grammar, or spelling, which affect readability. |
Disorganized and unclear. Frequent grammar and
spelling errors significantly hinder understanding. |
| Originality and Effort | 10% | Demonstrates exceptional
originality and effort, reflecting deep engagement with the assignment. Content is uniquely crafted. |
Shows good
originality and effort. Content reflects a genuine attempt to engage but may rely on standard examples. |
Shows moderate originality and
effort. Content reflects minimal engagement or relies on generic examples. |
Minimal
originality or effort. Content is generic, lacks depth, or shows limited engagement. |
No originality or effort. Content is
generic, copied, or reflects no engagement with the assignment. |
Appendix 1:
TEMASEK POLYTECHNIC SCHOOL OF BUSINESS
AY2025 APR Semester
Business Economics (BCEC002)
INDIVIDUAL ASSIGNMENT
Submitted to:
<Indicate Tutor’s Name>
| Admin No. | Student’s Full Name |
| QUESTION | MAX MARKS | MARKS OBTAINED |
| 1 | 12 | |
| 2 | 24 | |
| 3 | 14 | |
| 4 | 22 | |
| 5 | 18 | |
| 6 | 10 | |
| TOTAL | 100 |
Get Human-Written BCEC002 Assignment Help
Many TP students find the BCEC002 assignment challenging due to applying economic theory to real workplaces, drawing accurate graphs, and performing calculations within a strict word limit. If you are facing similar difficulties, business economics assignment help provides guidance aligned with Temasek Polytechnic marking criteria. At Singapore Assignment Help, you can review BCEC002 Assignment Sample to understand our academic quality. Choose our sg assignment writing service to receive a custom, plagiarism-free BCEC002 assignment written carefully by a subject expert.
Looking for Plagiarism free Answers for your college/ university Assignments.
- HS6433 Health Promotion and Counselling Assignment 2026 | NYP
- PSBA300CA / PSBA300CW Academic Writing 3: Writing Skills for Dissert and Res Prj (Engineering) PT Assignment
- MGT557 Leading the Company of the Future End-of-Course Assessment – January Semester 2026
- PSS304 Psychological Perspective to Public Safety Assignment Questions 2026 | SUSS
- PSS309 Cybercrime Tutor-Marked Assignment 01, Jan 2026 Presentation | SUSS
- CMM315 Peacebuilding and Security Tutor-Marked Assignment – 01, January 2026 Presentation
- S2470C Behaviour Change Coursework Asessment 2026 | Republic Polytechnic
- S3470C Nutrition Care Process Coursework Assessment 2026 | Republic Polytechnic
- PSY371 Performance Psychology Tutor-Marked Assignment – 01, January 2026 Presentation
- CM2015 Programming with Data Midterm Coursework Assignment 2026