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Essay / Research Paper Abstract
This 4 page paper considers how demand may be determined for two products. A student may purchase video tapes or DVD's, the DVD will always be a higher price than the tapes. The paper shows how the demand lines may be drawn and looks at that will influence the demand, such as supply, level of disposable income and the elasticity created by the perception of the different goods and the level of potential substitution. The paper includes one graph.
Page Count:
4 pages (~225 words per page)
File: TS14_TEdvdsup.rtf
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Unformatted sample text from the term paper:
of a student who is bought a player that will play DVDs and VHS tapes. They are keen to expand their collection and the VHS tapes are cheaper than the
DVDs. This may indicate that there the student would be likely to buy more VHS tapes due to the level of purchases they can make. However, many influences will impact
on the decision over which type of media the student will purchase. If we make a basic assumption that the student has a set level of disposable income that
they can spend on increasing their collection, and that both media then we can draw a basic demand curve. This is shown in figure 1 below. The VHS tapes are
the line on the left. This line shows that if there is a high price then there is a low demand, as the student can only afford fewer tapes, but
as the price decreases than the demand increases as the student can afford to buy more tapes. The line to the right is the DVD line. The pattern is the
same here as the higher the price the lower less can be bought to the demand is lower and as the price falls more can be bought, making the demand
increase along the bottom line. However, as the prove of DVDs is always higher than the price of VHS tapes this line has to start further to the right to
reflect this factor. Figure 1 However, there are some assumption in this. From this we may assess that as the student can buy more of the
VHS tapes with the same level of disposable income then this may be the preferred option. This makes the assumption that the tapes are seen as a perfect substitute by
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