Microeconomics and Apple Inc.Apple Inc is the producer of a variety of electronic products worldwide. They are known for their Macs, iPods, iPhones and iPads. They continue to use cutting-edge technology to produce the best, cutting-edge products. In my article, I intend to study the law of supply and demand and consumer elasticity. I also plan to identify various costs associated with running a company as large as Apple Incorporated, including any events that have impacted the company. And finally, I want to look at the job market within Apple Inc. From Macs to iPads, almost everyone has been touched and influenced by an Apple product. Now it's time to investigate the company behind each one. The law of demand states that there is an inverse relationship between the price of a good and the quantity buyers are willing to purchase over a defined period of time. To study demand as a product economist, use a demand curve. The law of supply states the principle that there is a direct relationship between the price of a good and the quantity that sellers are willing to offer for sale in a defined period of time. Elements that impact the supply curve include technology. Apple is a leader in innovation and technology. They are constantly releasing new and improved products. The total amount spent on research and development was $4.5 billion in 2013. Demand for Apple products continues to grow. Since 2009, sales have continuously increased from $42.905 million in 2009 to $170.910 million in 2013. (2013 10K) Another factor that leads to the increase in demand is the reputation of apples. Consumers prefer to spend money on an Apple rather than buying a lesser known and lesser known brand because they know that Apple will reach the middle of paper...... innovative products Apple will remain a leader in the field technology for a while. long time to come.ReferencesUnited States Securities and Exchange Commission. (September 28, 2013) Apple Inc. Form 10K. Retrieved from http://files.shareholder.com/downloads/AAPL/1761120739x0x701402/a406ad58-6bde-4190-96a1-4cc2d0d67986/AAPL_FY13_10K_10.30.13.pdf Ng, William. (November 14, 2011). The legacy of Steve Jobs: 360-degree commitment. Retrieved from http://www.incentivemag.com/Incentive-Programs/Engagement/Articles/Steve-Jobs--Legacy--360-Degree-Engagement/Gupta, Poornima. (August 13, 2011). Apple Store worker Cory Moll seeks union for retail workers. Retrieved from http://www.huffingtonpost.com/2011/06/13/apple-store-employees-union-cory-moll-retail-workers_n_875767.htmlApple.com (January 12, 2014). Apple Salaries. Retrieved from http://www.glassdoor.com/Salary/Apple-Salaries-E1138.htm