Katrina Candiesin Other (Education) by ELIKEY
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From the scenario for Katrina Candies, examine the key factors affecting the demand for and the supply of food in general.
In general there are mainly five categories of factors that affect demand and supply for goods. Price of related goods, income, price, tastes preference, number of buyers and expectations. In relation to Katrina one of the factors that we can get rid of as a reason for high demand is price. Price of the sugar free candy in the overseas is priced the same as the normal chocolate in spite of the high revenue in the oversea. The demand curve statistical estimation are important in measuring how the aspects of demand model affect the quantity of Candy purchased. As mentioned in week one scenario variable may be removed or added in relation to the influence or lack of...