SD_poster_project

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Supply and Demand Poster Project

Join with the members of your group and do the following:

• 1. Choose a product of your own design or one with which your familiar, which would be affected by the dynamics of a market economy.

  2. Make up four clearly stated headlines describing events which would result in a shift in demand. (You must cover four of the factors listed below.) Draw a separate graph for each headline!

  3. Do the same for four of the factors that cause a shift in supply. Again, you must draw a separate graph for each factor.

EACH GRAPH SHOULD CONTAIN:

1. The name of the product

2. A headline affecting change in demand or supply (The headline may not explicitly state which factor is affected).

3. A thoroughly labeled graph, showing supply and demand shifts, equilibrium price 1 & 2, equilibrium quantity 1 & 2.

4. An explanation for the shift (e.g.- change in the price of complements)

DEMAND:

Tastes and preferences

Income

Price of related substitutes

Price of related complements

Expectations                                      

# of consumers (population)  

SUPPLY:

Cost of inputs (raw materials, labor etc.)

Number of sellers

Productivity

Taxes/subsidies

Govt. regulations

Expectations

Technology

Oral Quiz (20 points):

1. Each student in the group will be called upon to explain one of the 8 headlines.

2. The explanation must follow this format:

   1. What changed, demand or supply?

   2. Did supply/demand increase or decrease?

   3. Why? (ex. – a change in tastes/preferences)

   4. What happened to the equilibrium price and quantity? (up or down?)

3. Each person is responsible for all the graphs on his or her group’s poster.  If anyone gives incorrect information about a graph in their oral presentation, everyone in the group loses 5 points.

Group Poster (30 points):

1. The 8 graphs are worth 3 points each. Each graph should accurately reflect the changes implied by the headline – shift in supply/demand, the direction of the shift, and the change in price and quantity.

2. Overall appearance – neatness, creativity, etc. – will be worth 6 points.