economics project liangzi shuwei melissachoo rachita group 3
TRANSCRIPT
ECONOMICS PROJECT
LIANGZI SHUWEI MELISSACHOO RACHITA
GROUP 3
iPad
What is an iPad? The first tablet computer developed by Apple Inc. Announced on January 27, 2010 Used for web browsing, watching movies, or viewing photos Able to import photos from a digital camera or SD card with the iPad Camera Connection Kit Thin and light
Determining the price of an iPad
Determined by demand and supply
Shortage of iPads
Upward pressure on
price
Price tends to increase to reach
equilibrium
Quantity demanded and quantity
supplied increases
Determining the price of an iPad
Equilibrium is the point when quantity demanded is equal to the quantity supplied.
Surplus of iPads
Downward pressure on the
price
Price tends to decrease to reach
equilibrium
Quantity demanded and quantity
supplied decreases
Associated Products for iPad
Consumer’s Point of View
A. Price of substitutes Substitute products are alternative
products that satisfy the same wants or needs.
PrinciplePrice of substitutes
Demand for iPad
Fall in the price of Blackberry playbook will lead to a fall in
the demand of iPads.
Demand curve for iPad
Consumer’s Point of View
A. Price of substitutes
Consumer’s Point of View
B. Taste Less of it will be demanded at each possible price Emergence of these new products may affect
consumers’ taste Likely to switch to buy these new products with
more advanced function and better quality
Increase in the number of
consumers would lead to a rise in the
demand of iPad
Demand curve for iPad
Consumer’s Point of View
B. Taste
Case Study : Roslyn High School
Did you know?Roslyn High School recently bought 47 iPads to its students and teachers, in December.
The school is aiming to give an iPad to each of the 1,100 students this year.
Weighing Marginal Costs and Marginal Benefits
CLICK!
Producer’s Point of View
A. Price of product The supply of iPad is affected by the price of the
product Emergence of substitutes poses challenges to the
price of iPad Have to adjust its price to be lower A fall in the price of iPads quantity supplied of
iPads to decrease Profits earned by firms will decrease Induce the firms to supply less.
Producer’s Point of View
B. Changes resulting from natural
Adverse changes such as bad weather, disasters, etc. will decrease supplyProduction process is disruptedLess is supplied at each prevailing price level
or abnormal circumstances
Producer’s Point of View
B. Changes resulting from naturalor abnormal circumstances
ConclusionApple iPads have to compete by adjusting the price of iPads to an affordable level Improving iPads with better quality and functionsSource for other countries for production of various iPad parts.
Acknowledgements
http://google.com.sghttp://wikipedia.comhttp://www.ipadshouse.com/a-number-of-us-schools-using-ipad-as-a-learning-tool-increases/Economics Notes
END.