What would happen to demand and supply curve?
What would happen to demand and supply curve of iPhones if
- samsung sells inexpensive smartphones
- china's(iPhones 2nd largest market) economy starts to struggle
-many countries are affected by america's currency
I do know that the quantity demanded would decrease thus curve shifts left. But would the price be affected in any way because according to the article(see below) there was no mention in decrease in price. All they talked about was that Apples's revenue of iPhones decreasing.
Please help me out. How would the curve look like. Is elasticity involved?
Article: http://www.straitstimes.com/business/fall-in-iphone-sales-pares-results-at-apple
Technically speaking apple doesn't contribute all that much to the US economy, Apple pays a insanely small amount of taxes. Basically the impact is would have on the us economy would only start at the economic participation of the people that work for apple ( in the US that is ).
So for US currency it would actually not matter all that much, it would just mean apples style of high end smartphones would become unviable, if the inexpensive smartphones are of a decent quality as opposed to apples marketing of their product partially as a designer product rather then just on specification it would just mean a boom for south Korea for a while until they need to keep lowering the price inorder to grow and in the end that can become unviable as well, which would have a much, much bigger economic impact.
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