Preview

Econ Sba on Elasticity of Demand of Fast Foods in Tnt

Powerful Essays
Open Document
Open Document
1292 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Econ Sba on Elasticity of Demand of Fast Foods in Tnt
TABLE OF CONTENTS

Acknowledgements i
Aims and Objectives ii
Introduction iii
Title 1
Purpose of Investigation 2
Method of Investigation 3
Presentation, Explanation, Interpretation and Analysis of Data 4
Findings
Recomendations
Bibliography
Appendix

Acknowledments

To my parents for being there for me and running to the stationary shop. To my sister for not practicing her bad singing when doing research. To my Economics teacher for reminding me that if I want something I am the one to make it happen.

AIMS AND OBJECTIVES

The aims of this project are:-
1. To educate people about demand of good in an economy
2. To show that price and demand for goods are related and with this knowledge we can save money to invest it into the economy or to increase the liquidity.

Purpose: To analyse and determine the factors influencing fast foods at St. Joseph 's Convent. Additionally, to investigate the sensitivity of quantity demanded of fast foods to changes in its price. Methodology: Both primary and secondary source of collecting data was used. Primary Sources:
1. Questionair
2. Interveiwing of persons after the questionair. Secondary Sources:
1. Colledge Economics
2. Express and Newsday daily newspapers
3.Express and Newsday archives on the internet

Title: to test the elasticity of demand of fast foods in school

Presentation:
Chart:1
Weekly quantity demanded for

You May Also Find These Documents Helpful

  • Powerful Essays

    Econ 102 Final Study Guide

    • 2275 Words
    • 9 Pages

    · Knowing a product’s price elasticity allows economists to predict the amount by which quantity demanded will drop in response to a price increase and vice versa.…

    • 2275 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    Jekanowski, Mark D., James K. Binkley, and James Eales. "Convenience, Accessibility, and the Demand for Fast Food." Journal OfAgricultural and Resource Economics (2001): 58-74. Print.…

    • 6433 Words
    • 26 Pages
    Good Essays
  • Powerful Essays

    References: Anand, R. (2011). "A study of determinants impacting consumers food choice with reference to the fast food consumption in India". Society and Business Review , 176-187.…

    • 5205 Words
    • 20 Pages
    Powerful Essays
  • Better Essays

    Demand Elasticity Paper

    • 1939 Words
    • 8 Pages

    Demand elasticity is a tool used by economists and firms to determine price points of products used by the consumer. The law of demand states that increasing the price of a good reduces the goods quantity demanded. The relationship is important and somewhat obvious. Similarly, demand reacts to changes in incomes, the price of related goods, and advertising efforts. Demand elasticity measures the responsiveness of one economic variable to another and of the concepts used to determine these relationships (Graham 2013). There are several reasons why firms gather information about the price elasticity of demand (PED). PED is a measure used by economists to demonstrate the elasticity of the…

    • 1939 Words
    • 8 Pages
    Better Essays
  • Powerful Essays

    There are many people that I would like to acknowledge in my overall achievement of my degree. 1st I would like to GOD for giving me the strength to continue being a full time single parent, a full time working person and a full time student. I would like to acknowledge my father; he was the brains behind most of my projects as well as the push to succeed. My children, who I endured most of the torment in my life for and last but not least, my future husband Quentin that have always given me the strength to take on the world.…

    • 7524 Words
    • 31 Pages
    Powerful Essays
  • Better Essays

    It would be impossible for any business to survive if there were no demand for their product. Therefore, one of the most important attributes of managerial economics is demand estimation. Demand estimation is an important tool because it helps the managers to estimate demand using a scientific method known as Econometrics. It is essential for a manager to be able to determine the appropriate variables of demand function, according to the textbook, Managerial Economics Applications: Strategies and Tactics, by James McGuigan, R. Charles Moyer and Frederick Harris (2014), “Effective decision making eventually requires the quantitative measurement of economic relationships” (p. 100). Thus, when the variables of demand function are understood, it will be easier for management to make forecasting decisions with fewer errors.…

    • 1447 Words
    • 6 Pages
    Better Essays
  • Powerful Essays

    In our research, we will discuss about price elasticity of demand, we will explain how firms can use the price elasticity of demand for Goods and services to decide on sales, setting pricing policies and determining the optimal price to maximize revenues.…

    • 1798 Words
    • 8 Pages
    Powerful Essays
  • Good Essays

    Porter S 5 Forces

    • 627 Words
    • 2 Pages

    high power of the buyer. Secondly, it has been determined that the products sold in the fast food…

    • 627 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    6. The common sense of principle that defines the generally observed relationship between demand, supply, and prices: as increases the price goes up, which attracts new suppliers who increase in supply bringing the price back tom normal. However, in the marketing of high price (prestige) goods, such as perfumes, jewellery, watches, Cars, Liquor, a low price may be associated with low quality, and may reduce demand. Demand is how much desire consumer have for de product or service is available .When demand is great and supply is low the price of a product or service increase when demand is low and supply is great . The price of a product or service decreases. The effect on price is the quantification of supply and demand. Demand in many instances is driven by disposable income and free time. Henry ford recognized this in increasing the wages of his workers and decreasing their work time.…

    • 344 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    A comparative study of the demand for KFC and Japs at a particular high school between the…

    • 3103 Words
    • 13 Pages
    Satisfactory Essays
  • Good Essays

    There are several uses of Price Elasticity of Demand that is why firms gather information about the Price Elasticity of Demand of its products. A firm will know much more about its internal operations and product costs than it will about its external environment. Therefore, gathering data on how consumers respond to changes in price can help reduce risk and uncertainly. More specifically, knowledge of Price Elasticity of Demand can help the firm forecast its sales and set its price.…

    • 754 Words
    • 4 Pages
    Good Essays
  • Good Essays

    In connection to this, the following factors were observed: (1) individual preferences and affordability of the customers (2) ambiance of the cafeteria (3) personal hygiene and sanitary practices of the staff (4) taste and quality of the food and (5) time of customer’s disposal. During the study, these factors served as the basis of the study. The factors were individually assessed and evaluated.…

    • 5657 Words
    • 23 Pages
    Good Essays
  • Powerful Essays

    1) To determine the relationship between the price of computers and the demand for the…

    • 2050 Words
    • 9 Pages
    Powerful Essays
  • Powerful Essays

    Research

    • 3916 Words
    • 16 Pages

    frequency of fast food consumption. The results indicate that age, income, education, household size, presence of children and other…

    • 3916 Words
    • 16 Pages
    Powerful Essays
  • Good Essays

    One of the most significant reasons for the popularity of fast food restaurants is that, fast foods are inexpensive. Fast food is cheap because the production is streamlined; means fast food can be produce in huge bulk, so that the quality becomes uniform and satisfy huge demand. In addition to that, the cost of the ingredients of fast food is cheaper than whole meal food. Emil Brindal (April 2010, p. 17-18) stated that most people…

    • 1088 Words
    • 5 Pages
    Good Essays

Related Topics