ECON 2301 Milestone 1 Questions With Answers | Latest Update 2023/2024 | Graded A+

Complete this Milestone 1 worksheet using the directions within to guide you. Submit your completed worksheet in the “Assignment
and Grades” tab in your course menu. When you have submitted this assignment for grading, please return to Module 3 for a module
wrap-up.
Your task:
You will take the role of a researcher for an umbrella manufacturing company that is considering entering a new market. You have
been asked by the board of directors for advice on how to understand the economic factors in the market.
As a researcher, the board is asking your advice on the following questions:
● Is the economy growing?
● Is the population growing?
● What is the forecast for economic growth?
● What is the climate (weather) like for selling umbrellas?
Step 1: Choose one of these these three markets. Identify the market you have chosen by highlighting the market or using an asterisk
(*) next to the market name.
● Togo
● Brunei
● Tunisia*
Step 2: Complete the worksheet using the market you have chosen.
Executive Summary Statement of the Problem
Directions:Using Michael Cooper’s , the Problem Definition Filter as a guide, Develop an executive summary statement of the business
problem.
Answer the following questions from the Problem Definition Filter. You will use your answers to draft your executive summary statement of
the business problem.
“Explore the current situation:
Tunisia is a nation in Northern Africa that borders the Mediterranean Sea. It also bordered Algeria on the west and Libya on the south side. The
country of Tunisia has a diverse topography, with mountains in the north and a semiarid south that merges into the Sahara. The country shares
maritime borders with Italy and is the smallest country in North Africa and the Maghreb region (GlobalEdge, 2022). The landscape of Tunisia is
mountainous in the northwest, where the eastern foothills of the Atlas Mountains are located. Within the mountain range is Jebel ech Chambi at
1,544 m, the highest point in the country. Further to the east, along Tunisia's eastern Mediterranean coast, is a broad coastal plain, known as the
Tunisian Sahel; the area is famous for its Olive cultivation. To the south lies a hot and dry central plain and the semiarid area merges into
the Sahara (Tunisia - Tunisian Republic - Country Profile - Nations Online Project, n.d.).
Tunisia is a low-middle-income nation with a current population of Tunisia is 12,144,835 which is equivalent to 0.15% of the total world
population covering 163,610 square kilometer area. Under the leadership of Habib Bourguiba and Zine al-Abidine Ben Ali, two long-serving
presidents, Tunisia tried to modernize its economy and advance a progressive social agenda after gaining independence in 1956. However, up
until the implementation of the Jasmine revolution, Tunisia remained an authoritarian state with an all-powerful ruling party and no major
institutions of representative government (Worldometer, 2019). With a score of 68.7 in 2020, Tunisia was placed 75th out of 189 nations for
business ease (GlobalEdge, 2022). Tunisia is rated 10th out of 14 Middle Eastern and North African nations, and its overall score is below both
regional and international averages. Following a sharp 8.7% contraction in 2020, GDP growth was projected to reach 3.4% in 2021, led by the
recovery of manufacturing exports and tourism on the supply side and private investment on the demand side, which increased by 24.5% in
2021 following a 26.8% contraction in 2020 (Bank, 2019).