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A mini-book by Supply and Demand It’s the day after Valentine’s Day. The demand for candy goes: It’s the week before school starts. The demand for school supplies goes: It’s Spring and stores just put out their summer clothes. The supply of shorts goes: When demand gets too and supply get too , can occur. Production and Consumption A farmer is a producer because he Them man visiting the fruit stand is a consumer because he A farmer is also a consumer because he has to buy things like The relationship between the producer and consumer is interdependent because Price and Incentives Price at store, $0.40 each. Price at store, $1.25 each. How much would it cost for six yogurts without the coupon? $ How much would it cost for three meal helpers without the $ coupon? How much do six yogurts cost with the coupon? How much do three meal helpers cost with the coupon? $ $ Why do manufacturers want you to use the coupon and save money? By offering the coupon consumers will choose and pay for their product, therefore not choosing some else’s product. If the consumer likes it they may buy again, even without a coupon. Do you think people are more apt to buy multiple quantities of things if they have a coupon? YES NO Sales and Profit You are an entrepreneur and have decided to set up a lemonade stand on a hot summer day. Although it’s fun just to have a lemonade stand, you also want to make a profit. Fill in the chart below: Loss (-) or Price per Number of Amount of cup cups sold money made profit (+) amount Expenses: What do you have to pay for to set up your stand? Lemonade ingredients: $7.00 Plastic cups: $5.00 Supplies for signs: $3.00 That’s a total of $ 15.00 25 ¢ 55 $13.75 $ 50 ¢ 30 $15.00 $ 75 ¢ 25 $18.75 $ $1.00 10 $10.00 $ profits are green and losses are red.