Exemplar Econ Project
Overview
Why I choose this topic; What economic topics this covers; Background information, including your thesis.
Pizza is my jam!
Give me a slice and everything is nice!
Whether it's deep dish, thin crust, or just a big greasy slice of brick oven, I will chow pizza down. I noticed during my time in college, my friends and I would default to ordering a pizza on a weekend night. Sure, we weren't very good cooks, but we didn't need that much pizza. I spent a lot of my scarce cash on a large two-topping pie from pizza places near us that had specials going on.
It occurred to me that I had so many pizza options around me:Papa John's, Dominos, Kaos, Lil' Caesar's, Blackjack, Beau Jo's, just to name a few!
Where did all of these pizza restaurants come from. Why so many? Have you ever considered the economics behind pizza? Me e ither...
Research Question:
Why do pizza joints always surround college campuses?
During my research, I expect to understand more about access to pizza, the power of market, and supply and demand.
Supply and Demand *Evidence #1:
Pizza supplier near major Universities
Economics Project 2018 - Google My Maps
Incentives Evidence #3
Positive
- Students don't have to cook
- pizza is delicious
- easy to split with friends to save money for other things
Negative
- Health concerns
- Freshman 15 is real
- more expensive than Ramen
Analysis of Pizza Supply and Demand Near Colleges
There is high demand for pizza, especially cheap pizza, near college campuses because there are a lot of college students with smaller budgets, and pizza is an affordable luxury good. Because of this high quantity demand, pizza suppliers increase the quantity of pizz in the market to meet this demand. So long as there are affordable pizza options, the quantity demand of pizza near college campuses will be high
Economic Conclusions
Research questions: Why do pizza joints always surround college campuses?
During my research, I found out that more about access to pizza, the power of market, and supply and demand. There is a solid base of consumers, pizza suppliers want to flood the market to meet the demand. College students are incentivized to eat at pizza joints rather than consume alternative/substitute goods such as dorm foods and (gasp) their own cooking.
