cf_ECO100_week9_MacroeconomicPaperTate

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Jan 9, 2024

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Final Report Title By Taherra Tate-Robinson ECO100 Professor Smith September 10, 2023

Industry Goods and Services The cannabis industry refers to the businesses and organizations involved in the cultivation, production, distribution, and sale of cannabis products. This industry has experienced significant growth and development in recent years, as more countries and states have legalized the use of cannabis for medical and/or recreational purposes. The cannabis industry can be divided into several sectors, including: 1. Cultivation: This sector involves the cultivation of cannabis plants, either indoors or outdoors, to produce the raw material for cannabis products. Cultivators may specialize in growing specific strains or varieties of cannabis. 2. Manufacturing and Processing: Once the cannabis plants are harvested, they are processed and transformed into various products, such as dried flower, oils, edibles, concentrates, and topicals. This sector involves extraction, refining, and formulation processes. 3. Retail and Dispensaries: Retailers and dispensaries are responsible for selling cannabis products to consumers. These establishments may be physical storefronts or operate online platforms. They often provide education and guidance to customers on product selection and usage. 4. Ancillary Services: The cannabis industry also includes various ancillary services that support the businesses involved in cannabis production and distribution. These services may include consulting, legal advice, marketing, packaging, testing, and security. 5. Research and Development: With the growing acceptance of cannabis, there is an increasing focus on research and development to explore the potential medical benefits and develop new cannabis-based products. This sector involves scientific research, clinical trials, and product innovation. The cannabis industry has created numerous job opportunities and economic growth in regions where it is legal. However, it also faces challenges, such as regulatory restrictions, banking limitations, and stigma associated with cannabis use. As the industry continues to evolve, it is expected to become more mainstream and regulated, leading to further growth and innovation. Describe a Macroeconomic Variable that Business Executives in Your Industry Should Monitor 2

Business executives in the cannabis industry should monitor several macroeconomic variables that can have a significant impact on their operations and overall industry performance. Some key macroeconomic variables to monitor include: 1. Legal and Regulatory Environment: The legal and regulatory framework surrounding cannabis can have a profound impact on the industry. Executives should closely monitor changes in laws and regulations at the local, state, and national levels, including licensing requirements, taxation policies, and restrictions on advertising and marketing. 2. Market Demand and Consumer Trends: Understanding market demand and consumer trends is crucial for executives in the cannabis industry. Monitoring factors such as consumer preferences, product innovation, and evolving consumption patterns can help businesses adapt their strategies and offerings to meet changing market needs. 3. Pricing and Taxation: Pricing dynamics and taxation policies can significantly impact the profitability of cannabis businesses. Executives should monitor pricing trends, including wholesale and retail prices, as well as tax rates imposed on cannabis products. Changes in pricing and taxation can affect consumer demand, market competitiveness, and overall profitability. 4. Access to Capital and Financing: Access to capital and financing is essential for the growth and expansion of cannabis businesses. Executives should monitor macroeconomic factors that can impact the availability and cost of capital, such as interest rates, investor sentiment, and regulatory restrictions on banking and financial services for the cannabis industry. 5. International Trade and Export Opportunities: As the cannabis industry expands globally, executives should monitor international trade policies and export opportunities. Changes in trade agreements, import/export regulations, and market access can create new opportunities or challenges for businesses looking to expand their operations beyond domestic markets. 6. Economic Indicators: Executives should also monitor broader economic indicators that can impact the cannabis industry, such as GDP growth, unemployment rates, consumer spending, and inflation. These indicators can provide insights into the overall economic health and purchasing power of consumers, which can influence demand for cannabis products. By monitoring these macroeconomic variables, business executives in the cannabis industry can make informed decisions, adapt their strategies, and navigate the evolving landscape of the industry. 3

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Review the Provided Excel Table and Graph for Your Chosen Macroeconomic Variable. Summarize How You Think This Industry Will Perform in the Future The cannabis industry refers to the businesses and organizations involved in the cultivation, production, distribution, and sale of cannabis products. This industry has experienced significant growth and development in recent years, as more countries and states have legalized the use of cannabis for medical and/or recreational purposes. The cannabis industry can be divided into several sectors, including: 1. Cultivation: This sector involves the cultivation of cannabis plants, either indoors or outdoors, to produce the raw material for cannabis products. Cultivators may specialize in growing specific strains or varieties of cannabis. 2. Manufacturing and Processing: Once the cannabis plants are harvested, they are processed and transformed into various products, such as dried flower, oils, edibles, concentrates, and topicals. This sector involves extraction, refining, and formulation processes. 3. Retail and Dispensaries: Retailers and dispensaries are responsible for selling cannabis products to consumers. These establishments may be physical storefronts or operate online platforms. They often provide education and guidance to customers on product selection and usage. 4. Ancillary Services: The cannabis industry also includes various ancillary services that support the businesses involved in cannabis production and distribution. These services may include consulting, legal advice, marketing, packaging, testing, and security. 5. Research and Development: With the growing acceptance of cannabis, there is an increasing focus on research and development to explore the potential medical benefits and develop new cannabis-based products. This sector involves scientific research, clinical trials, and product innovation. The cannabis industry has created numerous job opportunities and economic growth in regions where it is legal. However, it also faces challenges, such as regulatory restrictions, banking limitations, and stigma associated with cannabis use. As the industry continues to evolve, it is expected to become more mainstream and regulated, leading to further growth and innovation. Sources 4

1. Ross Lipson, Feb, 18 th , 2022, Where Is The Cannabis Industry Headed In 2022?, Where Is The Cannabis Industry Headed In 2022? (forbes.com) 2. Excelsior Staff, October, 13 th , 2020, How Cannabis Can Help the Economy, How Cannabis Can Help the Economy - Excelsior University 5

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