Question
-Now that we ' ve learned about the law of demand ( as price increases , quantity demanded decreases }, and our ve demand determinants
-Now that we've learned about the law of demand (as price increases, quantity demanded decreases}, and our ve demand determinants, let's see how this effects real life. l have provided you with a list of companies that have responded to consumer demand in the recent past, as well as a list of items that experienced great changes in demand (some of them, so much so that they do not exist anymore}.
-You may choose to research one of the following com panies {look at the demand for that company as a whole; how many people are visiting that store or using their products): GM, Netflix, IBM, GE, Apple, Nintendo, Xerox, Walmart, McDonalds, Target, Jewel, Verizon, T Mobile, Napster, Dominic's, Nokia, 3M
-OR you may choose to research the demand for one of the following products {some of these are making a resurgence- why? I How does this effect demand?): Slinky's, pogo sticks, Silly Bands, Tickle-Me-Elmo, m Crocs, Beanie Babies, Cabbage Patch Kids, Virtual Pets, Pet Rocks, Purple Ketchup, Frisbee, Palm Pilot, leggings, Fidget Spinners, Male Romper, Kale
-You are going to explain how the demand ofthese goods have changed, identifying the demand determinants that changed them. In order to convey this information you will create a timeline of the demand for the product. Here is what your timeline must include:
1. Intro identifying what your product is/when it was created
2. Hand drawn graphs, properly labeled showing the correct shifts in demand.
3. You must identify at least 4 events that shifted demand; using a minimum of 3 different determinants {which should be named specically: an advertising campaign would lead to a change in taste), along with an event that changes quantity demanded- this should be a price change!
4. Current demand for your product- this will be the end of your timeline. This means there should be a minimum of 7 different graphs drawn for this assignment.
5. Sources (minimum of 3) where you received your information- your stories should be based in facts. While it is okay to extrapolate to make a point please do not completely make up events. (Just provide links)
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