Supply and Demand 4-26-18

Supply and Demand 4-26-18
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Storyboard Text

  • Price
  • During the summer, more people are spending time outside, so the demand and price increase.
  • Quantity
  • D
  • D1
  • Price
  • There is a story in the news about someone hurting himself when he sat on one of the chaise lounges and it broke.  This causes fewer people to buy the chaise lounges, so the quantity decreases along with the price.
  • Quantity
  • D1
  • D
  • Price
  • A forest fire causes the price of wood goes up.  This causes the company to make fewer chaise lounges and the price of the chaise lounges to rise.
  • Quantity
  • S1
  • S
  • Price
  • The factory finds a more efficient way of producing the chaise lounges.  Because they are being produced more quickly and for less money, the quantity increases while the price decreases.
  • Quantity
  • S
  • S1
  • Price
  • The price of outdoor patio chairs goes down, causing more people to buy chairs as opposed to chaise lounges.  This causes the demand and the price to decrease.
  • Quantity
  • D1
  • D
  • Elena Napoletano Block 2
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