The Demand for Chicken, a Proposal

Good Essays
THE MONTHLY DEMAND FOR CHICKEN
IN A RURAL VS AN URBAN AREA
IN GUYANA

A PROPOSAL

INTRODUCTION
The demand for chicken refers to the quantity of chicken demanded by households (in lbs) in the identified areas (one rural and one urban), at the available prices within the specified areas. It must be noted at this point, that the true population in any given situation is never really known. As such samples are usually collected and estimated using econometric methods. The results are then used to infer or make judgments about the true population.

Basically, econometrics is based on economic theory, mathematical economics and statistics. Where the relationships among variables are measured using numerical values and estimates are then interpreted. This assignment has been embarked on to apply the theoretical knowledge learnt in the classroom to real world situations using actual data. I.e. the quantity of chicken demanded (dependent variable), subject to constraints such as the selling price of chicken, available substitutes, etc.

In doing an econometric research, there are four stages. These stages are 1. Specification of the model. 2. Estimation of the model. 3. Evaluation of the estimates. 4. Evaluation of the model.

These steps will be further explained in the proposal.

REVIEW OF LITERATURE

This comprises of two parts; 1. The general theory of demand 2. Previous models done and comparisons.

Theory of Demand
A fundamental characteristic of demand is…[1].”All else equal, as price falls, the quantity demanded rises, and as price rises, the quantity demanded falls.” What this implies is that there is a negative or inverse relationship between price and quantity demanded. However, price is not the only factor that affects or determines the quantity of a product demanded. Other factors such as the taste and preferences of consumers, the prices of related goods, number of buyers in the market, changing

You May Also Find These Documents Helpful

  • Satisfactory Essays

    CSEC Economics SBA Title of Project A comparative study of the demand for KFC and Japs at a particular high school between the period September 5 and 26, 201 1 Comments The Title The title of the project was clearly stated. It was a micro-economic topic and was appropriate for this level. The full two marks were awarded. Puiose of the Project Three objectives were adequate although seven were listed. awarded. The full three marks were Collection of Data Five sources of data collection…

    • 3103 Words
    • 13 Pages
    Satisfactory Essays
  • Good Essays

    BUSINESS PLAN PROPOSAL Nature of business Our nature of business is Salted Herbal Chicken. So, we had chosen Aun Kheng Lim Salted Chicken which is located at Ipoh to expand their business by using franchise systems. Our main consideration is healthy and quality food. So, normally we are using kampung chicken and cooked in hot salt to make it juicy and delicious. Whole chickens are wrapped in oil paper and then baked in a big steel pot filled with heated salt. Chinese Angelica was also…

    • 427 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    chicken

    • 436 Words
    • 3 Pages

    Strategic Partnerships, Customer Relationship Management & Loyalty Marketing, Interactive Campaign Management. History of Event Landmark 3/10 – 3/13 2008 Le Meridien Piccadilly 03/16 – 03/18 2009 Decision Date 9/30/09 What to include in Proposal Dates, Meeting Space outline with Room Names, Floor Plans, Menus, Meeting Space Rental, Distance to Metro Date Options 05/11 – 05/13 2010 Space Needs Days are flexible as long as no meetings are on Friday Monday 2 Offices Setup for Conference…

    • 436 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    chicken run

    • 2049 Words
    • 9 Pages

    Chicken Run Department of accounting Acc 4291: integrated case study Chicken run Section Semester 2 2011/2012 Members: Mastura hashim 0735072 Muhammad safwan mohamad 0723979 Siti aqilah talib 0733292 Table of Content Executive Summary Decision Maker What should Ms. Choy do? ~Analysis: 1) SWOT analysis 2) Fishbone diagram 3) Financial evidence ~Alternatives ~Recommendation and Action Plan Executive summary: 1998, Excel Poultry & Meat Sdn…

    • 2049 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    Chicken

    • 658 Words
    • 3 Pages

    3/1/2013 5) In response to the movie "Citizen Kane" one of the reason this film is considered one of the greatest produced is because of the many events in American History it alludes to, such as Yellow Journalism. Yellow Journalism was predomintaley seen throughout the 1880's to the 1900s , it was employed as a business, which caused editors to invent many stories that weren't true. During this time period many newspapers were very intrested in catching the public's attention rather than promoting…

    • 658 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Chickens

    • 4225 Words
    • 17 Pages

    Participant Information Notice and Consent Participant Information Notice & Informed Consent Participant Information Notice & Informed Consent Contents 1. Participant Information Notice 2. Informed Consent Informed Consent Form No: PG_EPO_Ph3_ICF_Site Name_v2.3 Date: 2013.07.23 Research Centre : Zaki Morad Nephrology Services Sdn Bhd Researcher : Dr. Zaki Morad Mohd Zaher Sponsors : Main Sponsor- CCM Duopharma Biotech Bhd. and PanGen Biotech Inc..…

    • 4225 Words
    • 17 Pages
    Powerful Essays
  • Good Essays

    Fried Chicken

    • 10256 Words
    • 42 Pages

    1. The five-force analysis suggests that KFC faces a very active and rigorous competition. • There is extreme rivalry in the fast food industry. There are more then a hundred other fast food businesses that KFC competes with. • Statistics show that there is always threat of new competition as there are new chains developing from time to time in the industry. The reason behind such a threat existing is due to the fact that the industry is a highly profitable market. • There a various number of…

    • 10256 Words
    • 42 Pages
    Good Essays
  • Good Essays

    Chicken Run

    • 4276 Words
    • 18 Pages

    MAF680 CASE: CHICKEN RUN GROUP MEMBERS AFIQ IZDIYAD BIN IBRAHIM 2008368767 AHMAD SABRAN JAMIL BIN MOHD AMIN 2008555807 MUHAMAD RUZAINI BIN AB RAHMAN DAYANG CASANDRA ASMALIA BT SAIDI ILI NAZIEERA BT MOHD SOHED 2008383779 2008333715 2008318359 CONTENTS Page Introduction 1. What were the problems/issues facing the company? 2. Who are the stakeholders and what their stakes are? 3. How were the affairs of the company managed? 4. How would you describe the system that existed within the company? 5.…

    • 4276 Words
    • 18 Pages
    Good Essays
  • Good Essays

    Chickens And Rabbits

    • 843 Words
    • 3 Pages

    Chickens and Rabbits The problem states there are some chickens and some rabbits in a barnyard. It also states that there are 50 heads and 120 legs on these chickens and rabbits. The problem asks how many chickens and rabbits are in the barnyard. There are 10 rabbits and 40 chickens in the barnyard. You must first analyze the problem and identify your elements; if each chicken and each rabbit has one head, the number of chickens and dogs together is 50. Each chicken has two legs and each rabbit…

    • 843 Words
    • 3 Pages
    Good Essays
  • Good Essays

    PHILIPPINE YUH CHIAU SCHOOL DEL PILAR, CABATUAN, ISABELA In partial fulfillment of the requirements in Research II and Advanced Statistics The Effect of Chicken (Gallus Gallus Domesticus) Eggshells in the Mass of Chicken Layers and Nutritional Content of Chicken Eggs Submitted by: Iris Kaye L. Madrid Arvin Jon S.Acuña Neil Renzo D.Agonoy Alejandro D.Galera Acknowledgement The researchers would like to convey their heartfelt thanks to the following who contributed to the success…

    • 5945 Words
    • 24 Pages
    Good Essays