Y7

(a) Pick a good and a subject (15 points) First, you should pick person (the subject) and a good (product or service) that you will analyse. It is crucial that the good you choose is something that i. you personally never or almost never use/buy and do not know much about, but ii. the subject is very familiar with and uses it frequently.1

In part (a), you need to explain a good you chose. Here, it is not the place to talk about the "needs" (you will do that in part (c)). What is required is a verbal description of the good the way you would describe it outside of an economics classroom, in addition to noting its main features

Try to be as specific and detailed as possible. For example, "milk" or "carton of milk" is not as specific as desired; rather, you might want to describe the brand (Lala), size (500 ml), category (non-fat), and other attributes that matter.

If you think that I might be unfamiliar with the good (ideal scenario from my perspective as this would be more fun and learning opportunity for me), then attaching a picture might be a good idea. Keep in mind that I need to be able to visualize what the good is; your task in (a) is to help me with that visualization.

The good can be whatever you choose as long as conditions (i) and (ii) are met. For example, food item that you do not eat because of your preferences or allergies; or a cosmetic that you are not familiar with; or software that your subject uses in their professional capacity,

but you never use it (check footnote 1 for some ideas). I would recommend products (tangible goods) instead of services as the latter are usually more difficult for analysis. But the choice is completely up to you.

Please also describe the subject (including some demographic variables). Since the study involves just one subject who might not want you to share any information about her/him, I do not require any description of the subject. There will be no score subtraction if you do not talk about the subject.