BISHAR group is offering storage and transportation services
through direct import of various fruits, meat and vegetables which
are hugely required in Sultanate’s of Oman.
This group is having their business agreement with various
other countries to import the required quantities of goods. They
are also extended their business contract with the other shipping
agencies in the Sultanate.
Ammarbinsaif Al-habsi, who is working as a branch manager for
BISHAR Group, announced that, the group main objective is to
provide the required supplies to the entire Oman citizens
irrespective of Covid-19 situational challenges. The required
custom formalities are also completed with the export country
authorities who are accepted to export the supplies from their
countries.
He also stated that, previously their group is operated only
in two marine routes; but now they are extended to one more route
and totally through three marine routes they are importing the
required supplies. Various businessmen, commercial agents and
traders are also more depending on the same routes to import and
export their products to other destinations.
He appreciated the adoption of the application of modern
systems and technologies to accelerate the pace of clearance and
customs inspection of all goods and products before their arrival
in the Sultanate through Bayan system.
Al-Habsiinvited all stockist, wholesalers, retailers and
importers in the Sultanate to utilizetheir service. He also
requested the exporters to take advantage of the facilities
available in the Omani ports.
Q3: Assume that, due to restrictions in transportation trading
of vegetables has been effected. In this case how the price of the
products will be changed by the change in transportation
cost.
Q4: Discuss any two determinants of price elasticity of demand
which are applicable to the nature of business of BISHAR
group.
Q5: Due to lockdown situation in other GCC countries, supply
of fruits are decreased, if so how supply curve moves; draw the
model diagram and give a detailed explanation about shift
in supply curve
Q6: BISHAR group wants to calculate the cost incurred in this
business. List down various kinds of cost incurred. Draw a table
and illustrate the cost incurred for the Company. Calculate TC,
TVC, and TFC. ATC for various assumed levels of outputs sold.