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Unit 1 Project - CB
Storyboard Text
- Slide: 1
- You are right. lets try 3 dollars and will how will people responded
- Boss we need to lower our prices to 3 or 4 dollars
- Everyone: I want one .....and I want one
- Slide: 2
- Two for 5$ dollarsit's so much cheaper
- Everyone: Yes its is
- Slide: 3
- A market is where buyers and sellers come together ( it doesn't have to be physical).A market force is the actions of buyers and sellers that cause the prices of goods and services to change without being controlled by the government.The consumer interests begins when the lady paid $10 for a cane, the can was seen as a cheap price in Kristin shop.The price eventually increases because of the competition between Kristin and Jonathan, as to who will sell the most, while gain money.Kristin and Jonathan ordered more canes because the people kept wanting to buy more canes, but both shops were sold out, which is why they decided to order more.The factors were the competition between those two, as well as the demand.What caused the surplus was that, the canes were venetually being sold expensive no one bought anymore canes, so both shops had full stock; to many canes were ordered.The surplus affected the price of the canes because no customers were buying due to the price, so Kristin and Jonathan began to decrease the price, little by little.A factor was when Jonathan got a customer and asked for a cane for $15, so then Kristin began to decrease the price and sell more, as to Jonathan.Equilibrium is basically the supply and demand meet, where everything is fair for both supply and demand. In this case, the equilibrium for the canes and shops was $8.
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