Pestle Analysis of Canon Company

The unemployment rate is calculated by measuring the number of unemployed over the total labour force (anyone 15 years or older who currently has a job or is actively seeking) [x100]. While the government does not aim for 0% unemployment as this has negative consequences, it is

An oligopolistic market is one that has several dominant firms with the power to influence the market they are in; an example of this could be the supermarket industry which is dominated by several firms such as Tesco, Sainsbury’s, and Waitrose etc... Furthermore an oligopolistic market can be defined in terms of its structure and its conduct, which involve various different aspects of economics.

The definition of an oligopoly is the market condition in which the production of identical or similar products is done by a small number of big firms. Oligopolies can be categorized in to two types: homogenous oligopolies where the product is exactly the same (e.g.: steel production)

Another type of competitive market is oligopoly. Oligopolistic markets are pretty much controlled by a small amount of firms. A good example of this

This is the percentage of people in the labor force who are unemployed. It can also be described as people who are employed receiving minimum wage without good growth opportunity in a company. Unemployment can be best described as people who are seeking for jobs, but are not yet employed. An example can be someone who just graduated from college or the university, trying to find job after graduating. When unemployment rate is high, it challenges people to find better opportunities and also means that the economy is not doing so great. Low unemployment rate means that the economy in the nation s stale an people are finding

The natural rate of unemployment is defined as the unemployment rate that is consistent when the economy is operating at its potential output. This rate would occur when the economy is considered stable.

Unemployment in the Australian economy is defined as the state of involuntary idleness of work, and the rate of such. An extremely complex, it is often segregated into four key demographics for analysis: national, state, youth and mature. Each of these four demographics feature varying trends and are consistently affected by different factors of the labour market.

GDP is the market value of all final goods and services produced within a country in a given period of time. GDP is basically the measure of a nation's total income and is an important tool in explaining a single society's economic well-being (Mankiw, 2009).

Although there is easy entry and exit within the industry, some entry barriers include market experience and advertising. Monopolistic structure have less market power, because it faces many competitors, sells similar products and is small in relation to its market. An example of a monopolistic business is a hair stylist, although it can also include any business within the service industry. Within a monopolistic competition, a business maximises profits and produces products, where marginal revenue is equal to marginal costs. Monopolistic competitions generally have the ability to price how they choose.

A market is defined as an institution that brings together buyers (demanders) and sellers (suppliers) of a particular good or service. A Market structure is the relationship among the buyers and sellers of a market and how prices are determined through outside influences. There are four different types of market structures. Two on opposite extremes, and two comfortably in the middle. On one end is perfect competition, which acts as a starting point in price and output determination. Pure competition is when a large number of firms sell a standardized product, entry and exit is very easy, and an individual firm cannot control the price. On the other extreme end is Pure monopoly. A monopoly is characterized by an absence of competition, which will often allow one seller to control the market. A Pure monopoly is essentially the same thing, but also includes near impossible entry and no substitute goods. Two more common market structures are monopolistic competition and oligopoly. Monopolistic competition has a large number of sellers producing different products, while an oligopoly has only a few number of sellers producing similar products. All in all pure competition, pure monopoly, monopolistic competition, and oligopoly are all unique market structures with differing characteristics, but have one main goal, profit maximization.

Oligopoly has been derived from Greek implying "few sellers". According to Sloman & Sutcliffe (2001) oligopolies are a type of imperfect market wherein a few firms share a huge proportion of the industry. Therefore industries such as oligopolies have dominance of small number of manufacturers which may produce either differentiated or almost similar products. Nevertheless there are differences between perfect oligopolies and imperfect oligopolies. While perfect oligopolies are characterized by firms that produce almost identical products like tea or CDs, imperfect oligopolies differentiate themselves through niche products such as motor cars and aircrafts. Oligopolies are marked by interdependence of firms operating in the market which either collude or compete among themselves. In collusion, firms consent to avoid competition amongst them. A formal collusion is a cartel wherein firms act like a monopolist and earn maximum profits. (Wellmann, 2004, pp: 1-2)

Unemployment refers to the numbers of people not working and can be measured by the claimant count and labour force survey. There are different types of unemployment and each of them requires different policies to overcome them.

Unemployment can be defined when a person who is actively searching for employment while not being able to find work. In an attempt to frequently measure unemployment is the unemployment rate, which is the number of unemployed divided by the number of people in the labor force. There are several types of unemployment and understand each is critical in order to understand what individuals qualify for unemployment benefits. Unemployment benefits can be defined as a payment made by a labor union or government to an individual whom is unemployed. The different types of unemployment include structural, frictional, and cyclical unemployment.

•Monopolistic competition- When an industry contains many rival firms, each of which has a comparable but at least slightly different product. Restaurants, are an example, all serve food but of different types of food and in different sites. Manufacture costs are above what could be attained if firms sold equal products, but consumers have an advantage from the variety.

Money is essential to any individual looking to have a decent lifestyle; labor is the avenue through which this is acquired. The economy goes through various fluctuations in activity causing unemployment to fall, rise, or level out. What this creates is the first type of unemployment, known as cyclical; frictional is the second type, caused by a temporary leave (for whatever reason) by the employee, and structural is the third type, varying with the economic changes in demand. The absence of unemployment at its maximum level is termed full employment, another version of unemployment. The term encompassing the sum of the frictional, structural, and, yet another type of unemployment, surplus unemployment is that of the natural rate of