Download Price of Related Products

Demand
Pineda
Economics
Directions
1.
2.
3.
4.
5.
Save this PowerPoint to the Downloads folder
Upload this PowerPoint to your Google Drive
Rename PPT “Per#_FirstName_LastName_Demand”
One partner share this PPT with the other
As you read through it TOGETHER, fill in the requested
information in the PPT
6. Share your PPT with me when BOTH of you are complete:
[email protected]
7. You are done!
The Market for the iPad
Part 1: Complementary Products
Complementary Product 1
Type description here
Complementary Product 2
Type description here
Complementary Product 3
Type description here



Answer the following:
Compliments to the iPad will most likely experience an
______________in demand because of the popularity of the iPad.
Show how a change in demand for the iPad would shift the curve
below
 Move curve and arrow in the direction of the shift.
Price
D1
D2
Quantity of Compliments
Part 2: Substitute Products
Substitute Product 1
Type description here
Substitute Product 2
Type description here
Substitute Product 3
Type description here




Answer the following:
Substitutes are likely to cause a ______________in demand for iPad.
Show how the change in demand would shift the curve below
 Move curve and arrow in the direction of the shift.
You might need to review your work from “Law of Supply and Demand”
Price
D1
D2
Quantity of IPads
 Find
pictures online to describe the following
scenarios
 Show the result of the scenario by shifting the
curve in the correct direction.
1. Consumer Income
2. Price of Related Products
3. Consumer Tastes
4. Consumer Expectations
5. Population

Scenario: US consumers experience an increase in general levels of
income.
Price
Place
Picture
Here
D2
D1
Quantity of Consumer Goods

Scenario: A recession causes US consumers to experience a
decrease in general levels of income.
Price
Place
Picture
Here
D2
D1
Quantity of Consumer Goods

Scenario: Gatorade raises their prices. People begin buying
Powerade. Show the demand curve for Powerade
Price
Place
Picture
Here
D2
D1
Quantity of Consumer Goods

Scenario: Pepsi lowers their prices. People stop buying Coke. Show
the demand curve for Coke.
Price
Place
Picture
Here
D2
D1
Quantity of Consumer Goods

Scenario: People find out that Oranges have health benefits that
fight cancer.
Price
Place
Picture
Here
D2
D1
Quantity of Consumer Goods

Scenario: A successful advertising campaign attracts many
consumers to the tablets. Desktop PC’s become less popular.
Price
Place
Picture
Here
D2
D1
Quantity of Consumer Goods

Scenario: Ford announces a brand new model of the F150. Show
the curve for consumption of the old F150.
Price
Place
Picture
Here
D2
D1
Quantity of Consumer Goods

Scenario: Consumer’s expect the price of meat to rise in the next 6
months. Show the demand curve for meat today.
Price
Place
Picture
Here
D2
D1
Quantity of Consumer Goods

Scenario: Apple’s Ipad received approval to be sold in China.
Price
Place
Picture
Here
D2
D1
Quantity of Consumer Goods

Scenario: Glynn County experiences a decrease in population.
Price
Place
Picture
Here
D2
D1
Quantity of Consumer Goods

Imagine that your income just increased. Find a good that you
would buy more of (normal good) and a good that you would
buy less of (inferior good).
Place
Picture of
Normal
Good Here
Place
Picture of
Inferior
Good Here
Type description here of what makes these goods “normal” or “inferior”

List a product that you own and a complement to that product
below.
Place
Picture of
Product
Here
Place Picture
of
Compliment
Here
Type description here of what makes these goods “compliments”

List a product that you own and a substitute to that product
below.
Place
Picture of
Product
Here
Place Picture
of Substitute
Here
Type description here of what makes these goods “substitutes”

List a product that you owned in your past that you would no
longer purchase. Then list a product that you either want or
have and is popular today.
Place
Picture of
Past
Product
Here
Place Picture
of Popular
Product Here
Type description here of what made your taste for that product change

List a product that you owned in your past. Then list a picture
of an update/innovation to that product.
Place
Picture of
Past
Product
Here
Place Picture
of Innovative
Product Here
Type description here of how the product became innovative and why you
would no longer have the demand for the original product

List a scenario where the number of buyers increased and
caused the demand for other products to go up as a result.
Place
Picture of
Increase in
Population
Here
Place Picture
of Products
that Will
Experience
and Increase
in Demand
Here
Type description here of why population increases caused the demand for
goods and services to change

List the members of your group here:
1.
2.
Place a picture of the two of you here!
Say cheese  !!!