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Essay / Research Paper Abstract
This 4 page paper clearly explains the factors that impact on supply and demand, and how this reflects in price. Using the example of carrots, the paper outlines potential influences that may increase or decreased the demand from customers along with the factors which may influence the desire of suppliers to supply the market. Included in the paper is consideration of the price elasticity, substitute and complimentary products as well as other general trends. The bibliography cites 2 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEcarrot.rtf
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Unformatted sample text from the term paper:
on the supply, demand and price for goods. We will use a very s common good; the carrot. The level of demand may be impacted by a range of issues.
For example, as a root vegetable there may be a season impact of demand, with more carrots demanded in the winter when they arte used for casseroles and stews and
in the spring when the perception is to gain new season vegetable. The fashion may also be an influence. If a television chef starts to extol the virtues of the
carrot on television there may be an increase in demand. The same may be said if a very tasty recipe is shown, shops may find that there is an increase
in demand for carrots. The opposite is also true, if there is a health scare, for example, a new article that associated higher rates of cancer with eating carrots,
or claimed carrots were carrying a bacteria that could make people sick, there would be a fall in demand. Factors such as advertising and the placement of the products may
also increase demand. The demand may also be impacted due to the availability and perception of substitute products. Substitutes are other different products that may serve the same purpose
or satisfy the same need. For example, it may mean Swedes and parsnips, or may also include some salad vegetables. To a certain extent as a carrot is food, other
food types may also be seen as suitable substitutes. If there is a shortage of the substitutes this may increase demand for carrots, just as if the substitutes increase in
price, making carrots more attractive. If the price of substitutes decreases or the supply increases then the demand for carrots may decrease. Likewise, advertising of substitute product may also decrease
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