writting assingment supply and Demand

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vasvavgl0727

Economics

Description

Use a five paragraph format. The first paragraph should include a statement of purpose and thesis sentence. Use vocabulary from our course. Do not copy and paste from other sources.

Imagine that you have decided to open a small ice cream stand on campus called "Ice-Campusades." You are very excited because you love ice cream (delicious!) and this is a fun way for you to apply your business and economics skills! Here is the first month's scenario--you order the same number (and the same variety) of ice creams each day from the ice cream suppliers, and your ice creams are always marked at $1.50 each. However, you notice that there are days when ice creams remain unsold but other days when there are not enough ice creams for the number of customers.

Use your knowledge of the factors that cause shifts in demand, and in a multi-paragraph essay, provide at least three reasons why ice cream sales fluctuate in this manner. (Apply only the factors you think are applicable to explaining this scenario.) Now assume that a month later, the school allows a competing student the right to sell ice creams on school property. (The number of students on campus remains largely unchanged.) What do you think will happen to the price of ice cream at your campus? Explain in detail.

Develop a response that includes examples and evidence to support your ideas, and which clearly communicates the required message to your audience. Organize your response in a clear and logical manner as appropriate for the genre of writing. Use well-structured sentences, audience-appropriate language, and correct conventions of standard American English.

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Explanation & Answer

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Running head: DEMAND AND SUPPLY FLUCTUATIONS

Demand and Supply Fluctuations
Author:
Institution:

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DEMAND AND SUPPLY FLUCTUATIONS

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Demand and Supply Fluctuations
The success of any business is dependent on the comprehension of economic concepts
particularly supply and demand. Practical application of such knowledge offers a better
understanding of business trends and experience in the running a business. This study focuses on
the influences that affect the supply, demand and sales of an ice cream business near a campus.
According to the scenario, the factors that affect demand and cause fluctuations in sales include;
income, changes in tastes and preferences and the availability of substitutes.
Income provides the buyer with the ability to purchase a product. The higher the income,
the more the goods you can buy...


Anonymous
This is great! Exactly what I wanted.

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