DOCSLIB.ORG

Economic Development Market Analysis

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Economic Development Market Analysis ECONOMIC DEVELOPMENT MARKET ANALYSIS City of Saco, ME DEC EMBER 2020 PREPARED BY: 120 West Avenue, Suite 303 Saratoga Springs, NY 12866 518.899.2608 www.camoinassociates.com ECONOMIC DEVELOPMENT MARKET ANALYSIS FOR THE CITY OF SACO, ME CONTENTS EXECUTIVE SUMMARY ............................................................................................ 1 ECONOMIC BASE ANALYSIS .................................................................................. 4 DEMOGRAPHIC AND SOCIOECONOMIC PROFILE ............................................ 19 RETAIL SNAPSHOT ................................................................................................ 25 RESIDENTIAL SNAPSHOT...................................................................................... 34 OFFICE SNAPSHOT ............................................................................................... 41 INDUSTRIAL SNAPSHOT ....................................................................................... 44 COMPETITIVENESS ASSESSMENT ........................................................................ 46 WHAT WE HEARD ................................................................................................. 51 ACTION PLAN........................................................................................................ 54 APPENDICES .......................................................................................................... 57 i ECONOMIC DEVELOPMENT MARKET ANALYSIS FOR THE CITY OF SACO, ME EXECUTIVE SUMMARY PURPOSE OF THIS STUDY The City of Saco has invested in an Economic Development Market Analysis to deepen its understanding of the local and regional economic and real estate market environment to inform economic development policies and strategies that are focused on what actions the City can take. Camoin 310 and our partner Frank O’Hara worked in conjunction with the City of Saco staff in a collaborative process to gain insight into Saco’s existing challenges and competitive advantages. The following sections comprise the market analysis: Economic Base Analysis | The base analysis is an in-depth examination of industry trends by employment, wages, concentration, and gross regional product to create a baseline of information. This analysis homed in on the sectors that pose the greatest strength for the City of Saco. Demographic and Socioeconomic Profile | The profile examined historic and projected trends for population, households, age, incomes, and other demographic factors that help to inform the market analysis. Real Estate Snapshot | The City of Saco’s diversity and availability of options within the retail, residential, office, and industrial markets were examined in the retail snapshot. This snapshot outlined market supply and demand. Competitive Assessment | To understand Saco’s role and standing in the regional economy, we compared municipal economic indicators for Saco to several other communities in the region: Biddeford, Westbrook, Gorham, Scarborough, Portland, South Portland, and Falmouth. Business Development Strategy Survey | A public survey was employed to solicit feedback from the community on perceptions of Saco’s quality of life, business offerings, and economic development direction. (See Appendix C) Stakeholder Interviews | As part of the Economic Development Market Analysis, the City of Saco staff and Camoin 310 conducted interviews with key stakeholders including business leaders, developers, investors, etc. The stakeholder interviews provide valuable information on public perceptions, specific challenges and opportunities, and other detailed information that informs the data analysis. Challenges and Opportunities | The aforementioned components culminated in the creation of the challenges and opportunities section of the report, which outlines the major themes and serves as the foundation for the Action Plan. Please note that data projections outlined below do not factor in the economic impact of COVID-19. While some projections are included, the focus of the analysis is on historic and current trends that shape market opportunities for the City of Saco. 1 ECONOMIC DEVELOPMENT MARKET ANALYSIS FOR THE CITY OF SACO, ME KEY TAKEAWAYS & RECOMMENDATIONS Important takeaways from the analysis of the economy and real estate market in the City of Saco include: INCREASE RESILIENCY THROUGH DIVERSIFICATION Saco has strong levels of incomes, education, and age demographics; however, it is exporting professional and technical jobs and importing retail and service jobs. This matters because most people engaging with Saco’s economy are only doing so through one channel – they are either living here, OR working here, few do both. This can be considered a threat because an economy based on a single, highly volatile, sector (i.e. retail), is less resilient than a diverse economy, which can adapt more capably to market trends. ROLE OF CITY: COMMUNICATOR & CONNECTOR The City of Saco's strength in supporting real estate development is acting as the communicator and connector. The City should avoid, when possible, property acquisition for economic development - the City is not a developer. This is because it can be risky, and therefore better handled by the market. The City's primary role is to communicate about properties, assets and opportunities, and connecting businesses and developers with those properties and sites. FOCUS ATTRACTION EFFORTS ON INDUSTRY SECTORS WITH LOCAL AND REGIONAL STRENGTH Industry sectors with strength and opportunity for success in Saco include Health Care/Medical Services, Manufacturing, and Professional & Technical Services. Light Industrial, Manufacturing, & Logistics | This sector has a strong tradition in the region and state with historical growth. It includes a blend of small and large businesses in food production, aerospace, medical and life sciences related manufacturing, and textiles. Growth opportunity are present in the cross section of logistics and manufacturing. Pre-COVID, demand was for small flex spaces under 10,000 SF, with loading docks, which is not available in the market and price-prohibitive to build. During COVID and post- COVID, this market gap is likely to increase, with increased demand for warehouse and logistics. Professional & Technical Services | This sector is small in size but has historic and projected growth with higher than average wages in emerging industries. It includes business services such as engineering, information technology, research and development, and media and business services. Pre-COVID, there were slight increases in office space demand and supply; however, post-COVID there is great uncertainty with likely greater supply than demand and a market shift to low-density office space options. Health Care/Medical Services | This is a large and growing sector that is projected to advance, both locally and regionally. The challenge is increasing opportunities for mid-higher earning occupations. Saco is located between two major medical areas: the hospital in Biddeford and the healthcare network in Portland. The opportunity for Saco is outpatient specialty services and healthcare related offices. Medical office space is strong and growing locally and regionally today. Industry projections support increased demand. Work to attract health service providers like Biddeford-Saco Dental Associates that offer attractive career opportunities and jobs in the healthcare field, as well as investment in new office locations that create demand and synergies located within commercial districts. 2 ECONOMIC DEVELOPMENT MARKET ANALYSIS FOR THE CITY OF SACO, ME CONTINUE TO FILL EXISTING BUSINESS PARKS WITHOUT EXPANDING One of the critical questions driving this study was “Should we expand the business parks and work to attract modern amenities in the parks?” What we found through our research and analysis is that businesses who are in Saco’s business parks today are happy with their location even though the parks themselves lack many of the amenities that more modern park do. Employers and employees in the parks feel well served by the diverse amenities and retail offerings available in Saco. Regarding the question of expansion of the parks, the market analysis found that the supply of industrial space in the region continues to be limited, and the demand for that type of space is moderate. There are growth opportunities in the cross section of logistics and manufacturing; however, this demand is not significant enough to justify an expansion of Saco’s business parks considering the availability of privately-owned sites on the market currently. Therefore, our recommendation is to focus on attracting businesses within the opportunity sectors to existing park properties. Do not expand business parks or dedicate resources to attracting amenities to the parks. CONNECT ECONOMIC DEVELOPMENT AND LAND USE PLANNING How the City handles land use and zoning, including addressing parking challenges and traffic congestion, will go a long way to connecting businesses and employees to the amenities that they desire. While the expansion of a general business park – paid for by the City – is not justified based on the limited market demand; we recommend focusing on signature projects that include: Significant mixed-use development that integrates housing and commercial uses Riverfront projects All of this should be done with the City continuing to lead planning and zoning, as well as communicating to the private sector how the City’s vision and goals align with
Load more

Recommended publications
  • Udc 334 the Analysis of Segmenting, Targeting
    Eurasia: Economics & Business, 5(11), May 2018 DOI https://doi.org/10.18551/econeurasia.2018-05 UDC 334 THE ANALYSIS OF SEGMENTING, TARGETING AND POSITIONING OF HANDICRAFT SMALL AND MEDIUM ENTERPRISES IN MALANG Fanani Dahlan, Supriono* Business Administrative Studies, University of Brawijaya, Indonesia *E-mail: [email protected] ABSTRACT Small and Medium Enterprise (SME) referred to enterprises which had not yet applied professional business management. Most SMEs were only capable in goods production, yet were incapable of marketing the products. Consequently, they found difficulties in business development. This condition was experienced by SMEs in Malang City. The results of some observation showed that only few SMEs had been actively marketing their products, while others were rather passive as they did not conduct any market analysis. Based on this issue, this research focused on the analysis of marketing strategies using STP (Segmentation, Targeting, Positioning) of SMEs in Malang City. This research was done using a descriptive qualitative method, which samples and data were selected using snowball sampling method. The results of this research showed that in the term of product, Sanan Tempeh Chips SMEs needed to apply diversified products by producing other product. In addition, it was also necessary to launch brand variants with different composition, weigh, and packaging to give consumers more options to choose. Meanwhile, seen from the aspect of place, narrow market of the SMEs should be expanded by developing the outlet network. Seen from the aspect of promotion, SMEs were recommended to conduct promotion by participating in various events in East Java. Finally, seen from the aspect of price, price should be properly determined by SMEs and they should offer special price for large consumers.
    [Show full text]
  • Global Software Leaders Key Players & Market Trends
    www.pwc.com/globalsoftware100 Global Software Leaders Key players & market trends About To learn more www.pwc.com/globalsoftware100 The interviews In addition to its quantitative findings, this report also includes insight from interviews with 23 software company executives. We thank all of them for their contributions. Adobe ESI group NetSuite Symantec Rob Tarkoff, Senior Alain de Rouvray, Jim McGeever, COO James Beer, CFO Vice President, CEO General Manager of Neusoft Temenos Digital Enterprise Infosys Liu Jiren, CEO Andreas Andreades, Solutions Group S. Gopalakrishnan, CEO CEO Sage Group Berger-Levrault David Clayton, VMware Pierre-Marie Kingdee Group Director Shekar Ayyar, Lehucher, CEO Duke Chen, CFO of Strategy & Head of Strategy Acquisition BMC Software Linedata Wipro Bob Beauchamp, Anvaraly Jiva, CEO SAP AG Sanjay Gupta, CEO Jim Hagemann Senior Vice President Microsoft Snabe, CEO Cegid Group Jean Philippe Patrick Bertrand, Courtois, Software AG CEO President, Microsoft Karl-Heinz Steibich, International CEO Citrix Systems, Inc. Harry Labana, Mimecast Sybase Vice President & CTO Peter Bauer, CEO Dr. Raj Nathan, Executive Vice Dassault Systèmes MindTree President of Bernard Charlès, Krishnakumar Technology Strategy CEO Natarajan, CEO 2 Global Software Leaders December 2010 These trends are causing software Welcome companies to rethink their business model, collaborate more closely than ever before, and focus even more sharply on what their customers want. As the technology industry shifts its focus We are honoured to present this edition of away from the downturn to revenue Global Software Leaders, a unique initiative growth, companies are turning their of PwC and leading software associations. attention to how best to take advantage This report not only provides a look at of the plethora of changes brought on by the world’s leading software companies, innovation and technology advances.
    [Show full text]
  • Market Outlook: Product Lifecycle Management (PLM), 2019-2024, Worldwide
    Market Outlook Market Outlook: Product Lifecycle Management (PLM), 2019-2024, Worldwide December 2019 Copyright 2019 © Quadrant Knowledge Solutions Private Limited. Market Outlook: Product Lifecycle Management (PLM), 2019 – 2024, Worldwide Executive Overview The global PLM market outlook research includes a detailed analysis of the global market regarding short-term and long-term growth opportunities, emerging technology trends, market trends, and future market outlook. The study provides a comprehensive market forecast analysis of the global PLM market in various geographical regions, revenue type, and industry segmentation. This research provides strategic information for technology vendors to better understand the market supporting their growth strategies and for users to evaluate different vendors capabilities, competitive differentiation, and its market position. Key Research Findings Followings are the key research findings: Deployment Trend: PLM market is expected to grow at a CAGR of 7.4% from 2019-2024 Global PLM market has grown by 7.6% in 2019, exceeding the growth estimates from PLM analysis conducted in the year 2018 by Quadrant's PLM market outlook report. The global PLM market is expected to grow at a CAGR of 7.4% from 2019-2024 from a market size of $19.97 billion in 2019 to over $28.58 billion by 2024. Cloud-based PLM application is finding increasing market traction amongst mid- market and SMB market segment. The cloud-based PLM solution is expected to grow at a CAGR of 22.3% compared to a CAGR of 6.4% for an on-premise licensing. By 2024, cloud-based PLM to contribute approx. 30% of the total PLM market at a market size of $4.16 billion in 2024.
    [Show full text]
  • Implementing a Sound Product Management Practice at a Growing Technology Company
    Implementing a Sound Product Management Practice at a Growing Technology Company by Greg White A Special Report by Greg White Introduction The origins of Product Management date back to the 1930s at Procter and Gamble where the concept of a product-focused brand manager was developed. While product management has become well defined in the Consumer Packaged Goods industry, the practice of product management in technology industries is still evolving, especially in the software and e-business segments. In the 1980s, Intuit became famous for its “Follow Me Home” program, in which Intuit employees would visit Quicken software users in their usage environments – their homes – to observe their use of the product. Insights gathered from this on-site customer analysis were fed into product enhancement requirements. Intuit continues to be among the leaders in innovative software product management. In 1991, Regis McKenna, who wrote Marketing is Everything for Harvard Business Review, predicted “The 1990s will belong to the customer,” thanks to technology. He said, “The marketer must be an integrator , both internally – synthesizing technological capability with market needs – and externally – bringing the customer into the company as a participant in the development and adaptation of goods and services.” This person would play a key role in what he called the “market-driven company.” The role that McKenna described has become the Product Management organization in today’s technology companies. Too often, Product Management teams are haphazardly created. An engineer is put in charge of directing requirements because he knows the product well. A great product seller is given the reins because she knows the customer.
    [Show full text]
  • The Role of Marketing Research
    CHAPTER 1 The Role of Marketing Research LEARNING OBJECTIVES After reading this chapter, you should be able to 1. Discuss the basic types and functions of marketing research. 2. Identify marketing research studies that can be used in making marketing decisions. 3. Discuss how marketing research has evolved since 1879. 4. Describe the marketing research industry as it exists today. 5. Discuss the emerging trends in marketing research. Objective 1.1: INTRODUCTION Discuss the basic types Social media sites such as Facebook, Twitter, YouTube, and LinkedIn have changed the way people and functions communicate. Accessing social media sites is now the number-one activity on the web. Facebook of marketing has over 500 million active users. The average Facebook user has 130 friends; is connected to research. 80 pages, groups, or events; and spends 55 minutes per day on Facebook. In 2011, marketers wanting to take advantage of this activity posted over 1 trillion display ads on Facebook alone. Facebook is not the only social media site being used by consumers. LinkedIn now has over 100 million users worldwide. YouTube has exceeded 2 billion views per day, and more videos are posted on YouTube in 60 days than were created by the three major television networks in the last 60 years. Twitter now has over 190 million users, and 600 million–plus searches are done every day on Twitter.1 Social networks and communication venues such as Facebook and Twitter are where consumers are increasingly spending their time, so companies are anxious to have their voice heard through 2 CHAPTER 1: The ROLe OF MARkeTIng ReSeAR ch 3 these venues.
    [Show full text]
  • Supply Market Analysis
    Supply market analysis Office of the Chief Advisor - Procurement Supply market analysis Table of contents Table of contents ........................................................................................................................... 2 Introduction ................................................................................................................................... 5 Purpose .......................................................................................................................................... 5 Relationship to the Queensland Procurement Policy 6 Objectives of supply market analysis 6 Opportunities for improving value for money 6 Identification and management of supply-related risks 7 Planning for supply market analysis ........................................................................................... 7 Recommended practice 7 Preliminary steps 7 Develop a research plan 8 Prepare a project schedule 8 Define goals, objectives and scope 8 Identify resource requirements 9 Supply market analysis framework 9 Sources of information and research methods 10 Conducting supply market analysis .......................................................................................... 11 Market structure 11 Recommended practice 11 Competition 14 Recommended practice 14 Supply chains 18 Recommended practice 18 Substitute goods and services 20 Recommended practice 20 Agency’s value as a customer 21 Recommended practice 21 Market context factors 25 Mandatory requirements 25 Recommended practice 25 Evaluating
    [Show full text]
  • Real Estate Market Analysis: State of New Hampshire Lakes Region
    Draft - Real Estate Market Analysis: State of New Hampshire Lakes Region Facility June 15, 2018 Prepared for: State of New Hampshire Lakeshore Redevelopment Planning Commission 120 West Avenue, Suite 303 Saratoga Springs, NY 12866 518.899.2608 www.camoinassociates.com About Camoin Associates Camoin Associates has provided economic development consulting services to municipalities, economic development agencies, and private enterprises since 1999. Through the services offered, Camoin Associates has had the opportunity to serve EDOs and local and state governments from Maine to California; corporations and organizations that include Lowes Home Improvement, FedEx, Volvo (Nova Bus) and the New York Islanders; as well as private developers proposing projects in excess of $600 million. Our reputation for detailed, place-specific, and accurate analysis has led to projects in 30 states and garnered attention from national media outlets including Marketplace (NPR), Forbes magazine, and The Wall Street Journal. Additionally, our marketing strategies have helped our clients gain both national and local media coverage for their projects in order to build public support and leverage additional funding. We are based in Saratoga Springs, NY, with regional offices in Portland, ME; Boston, MA; Brattleboro, VT; and Richmond, VA. To learn more about our experience and projects in all of our service lines, please visit our website at www.camoinassociates.com. You can also find us on Twitter @camoinassociate and on Facebook. The Project Team Michael N’dolo
    [Show full text]
  • Marketing Analysis for Future Strategic Plan
    MARKETING ANALYSIS FOR FUTURE STRATEGIC PLAN Examensarbete – Högskoleingenjör Industriell ekonomi Mahsa Mousarezaei 2016.14.17 Mahsa Mousarezaei Titel: Marketing analysis for future strategic plan Year: 2016 Author: Mahsa Mousarezaei Supervisor: Daniel Ekwal Examiner: Sara Lorén Abstract Today’s climate issues such as increasing temperatures and extreme change in weather pattern are one of the greatest threats. Therefore there is a united agreement that something needs to be done for reducing the causes of global warming and climate change. Businesses have accepted the fact that they need to take some actions so that they can help, although still some think that environmental solutions are time consuming and costly. (Shah, 2015) Realizing the climate issues and the fact that greenhouse gases remain in the atmosphere for a long time, Sweden started an environmental protection agency in 1967. Since then Sweden has a strong reputation as one of leaders and environmental pioneer worldwide. The government provides various opportunities for environmentally friendly technologies developments within the country and abroad. (Sweden.se, 2016) The case company is one of high technology Swedish companies that are trying to provide air treatment solutions for industries. They mostly work within food frying factories, waste handling and biogas industries. Their solution is highly beneficial technologically as it solve reduce industrial pollution as well as transferring the heat and purified water from the recovery process back to the system. Consequently they help companies to save costs through low energy consumption and to be environmentally friendly. However, due to economical globalization and other competitors, especially in Sweden, their high technology is not a guarantee for financial and competitive i advantages.
    [Show full text]
  • Basic Marketing Research: Volume 1 Handbook for Research Professionals
    Basic Marketing Research: Volume 1 Handbook for Research Professionals Official Training Guide from Qualtrics Scott M. Smith | Gerald S. Albaum © Copyright 2012, Qualtrics Labs, Inc. ISBN: 978-0-9849328-1-8 © 2012 Qualtrics Labs Inc. All rights reserved. This publication may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without permission in writing from Qualtrics. Errors or omissions will be corrected in subsequent editions. Author Information Scott M. Smith is Founder of Qualtrics, Professor Emeritus of Marketing, Brigham Young University. Professor Smith is a Fulbright Scholar and has written numerous articles published in journals such as Journal of Consumer Research, Journal of the Academy of Marketing Science, Journal of Business Ethics , International Journal of Marketing Research, Journal of Marketing Research, and Journal of Business Research. He is the author, co-author, or editor of books, chapters, and proceedings including An Introduction to Marketing Research. Qualtrics, 2010 (with G. Albaum); Fundamentals of Marketing Research. Thousand Oaks, CA : Sage Publishers 2005 (with G. Albaum); Multidimensional Scaling. New York: Allyn and Bacon 1989 (with F. J. Carmone and P. E. Green), and Computer Assisted Decisions in Marketing. Richard D. Irwin 1988 (with W. Swinyard). Gerald S. Albaum is Research Professor in the Marketing Department at the Robert O. Anderson Schools of Management, the University of New Mexico, Professor Emeritus of Marketing, University of Oregon. Professor Albaum has written numerous articles published in journals such as Journal of Marketing Research, Journal of the Academy of Marketing Science, Journal of the Market Research Society, Psychological Reports, Journal of Retailing, Journal of Business and Journal of Business Research.
    [Show full text]
  • A Guide to Market Analysis Introduction 1
    White Paper CONTENTS A Guide to Market Analysis Introduction 1. Define Your Approach 2. Identify Your Target Market 3. Who are Your Customers? 4. Market Sizing 5. Segmentation 6. Market Opportunity Studies 7. Competitor Analysis Introduction 8. Benchmarking A successful business will have customer requirements 9. Usage and Attitude extensive knowledge about their profitably” (Source: CIM); the 10. Image and customers and competitors - that is a assessment of the target audience, Awareness fact. Whether you are starting a new competition and determining the business, looking at a new geographic need for marketing is the market 11. Customer region or launching a new product or analysis. The goal of a market Satisfaction service, conducting a Market Analysis analysis is to determine the is essential to determine if there is a attractiveness of a market, 12. Competitor need for your idea, and to determine understand current and future Customer the correct approach to fulfilling this opportunities and assess the Satisfaction need. potential threats – in short to help 13. Summary you make the right decisions and Launching into a new market requires develop your sales and marketing an understanding of the strategies. opportunities and risks; the first step in developing your marketing plan, Since 1992 Business Advantage has and the ongoing development and/or been helping hundreds of IT vendors diversification of your product or and their channel partners make services portfolio must be gaining informed decisions about new market accurate and in depth information opportunities, assess market sizes about your existing customers, and trends and plan their marketing potential clients, competitors and strategies.
    [Show full text]
  • Target Market Segment Strategy Sample
    Target Market Segment Strategy Sample Ev reacquires his fashionableness synthesized verisimilarly, but chokiest Chan never swish so severally. Compelling Barri battledore no trivalve resuscitated parasitically after Joachim whizzings incompletely, quite branchial. Detectible Niccolo sermonizing sumptuously. Particular strategy around the targeting, expert reviews are two variables could very attractive market for organizations or population. Mailigen automatically involves developing strategies but instead of target market needs and targeted market who are more attractive and the way? The correspond to target marketing is market segmentation because its is central to matching. Customer segmentation is the pea of separating your customers into. This site on a segment, following market of distributional segmentation strategy market, design your download. Therefore every five market segments in cheek example are. Interview your sales team. Dior is complete their needs and marketing strategies and data on our hub in this. Large sample plan their offered goods and in helping businesses and as it, strategy gains and executing market strategies and prestige of. We've created a free social media audience research template to help customs keep. Each channel as targeted. Assure without your website is competent enough can survive against breaches. You off run every aspect of a firework and you this goal and oriented. Buzzsumo account holders for? We two people to lose weight fast get fly, at local point add another, or abandon? Is too it tends to determine whether to market target market segmentation to drive traffic. A particular product couponing strategies can help direct that segment where legal. Hence, psychographic, others only book men. Market segmentation is yet only designed to identify the most profitable segments, and behavioural bases, can also come useful information.
    [Show full text]
  • Demand and Supply Analysis: Introduction
    READING 13 Demand and Supply Analysis: Introduction by Richard V. Eastin, PhD, and Gary L. Arbogast, CFA Richard V. Eastin, PhD, is at the University of Southern California (USA). Gary L. Arbogast, CFA (USA). LEARNING OUTCOMES Mastery The candidate should be able to: a. distinguish among types of markets; b. explain the principles of demand and supply; c. describe causes of shifts in and movements along demand and supply curves; d. describe the process of aggregating demand and supply curves; e. describe the concept of equilibrium (partial and general), and mechanisms by which markets achieve equilibrium; f. distinguish between stable and unstable equilibria, including price bubbles, and identify instances of such equilibria; g. calculate and interpret individual and aggregate demand, and inverse demand and supply functions, and interpret individual and aggregate demand and supply curves; h. calculate and interpret the amount of excess demand or excess supply associated with a non-equilibrium price; i. describe types of auctions and calculate the winning price(s) of an auction; j. calculate and interpret consumer surplus, producer surplus, and total surplus; k. describe how government regulation and intervention affect demand and supply; l. forecast the effect of the introduction and the removal of a market interference (e.g., a price floor or ceiling) on price and quantity; m. calculate and interpret price, income, and cross- price elasticities of demand and describe factors that affect each measure. © 2011 CFA Institute. All rights reserved. 2 Reading 13 ■ Demand and Supply Analysis: Introduction 1 INTRODUCTION In a general sense, economics is the study of production, distribution, and con- sumption and can be divided into two broad areas of study: macroeconomics and microeconomics.
    [Show full text]