Supply and Demand- Noah T
Storyboard Text
- Glida: 1
- Good evening, Joe. Would you like to tell me how water bottle sales are doing this quarter?
- Sales are doing awful! no one wants our product and our investors are getting scared!
- What?! Why is this happening? How do we fix this?
- It's all because of supply and demand.
- Glida: 2
- Supply and Demand? What is that?
- Supply and demand is the relationship between the amount of a product that is available and how much people want it
- So for example, if we want to increase sales for our water, we should look at how much we have and how much people want it.
- We can then figure out either to raise or lower the price based on demand, since we already have plenty of water in our warehouses.
- Glida: 3
- Oh wow! Since we have plenty of water in stock, what if I lowered the price from $5 per bottle to $2.50 so people want to buy it?
- Yeah, that is pretty much why I came here to tell you that in the first place. What kind of person is paying $5 for one bottle of water?
- Now our company can flourish! Thanks for the insight! Father never taught me economics when he left me the company....
- Just letting you know, our competitors sell water for $1.50. I think this company is doomed.
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