Set up a yoghurt ice-cream stall after 'A'-levels examinations - PDG:07/12, Group 3

Limited Resources

Natural resource

Raw materias

Milk

Yoghurt culture

Sugar

Land materials

Venue

Human resources

Labour

Physical effort

Mental effort

Entrepreneurship

Manufactured Resources

Capital

What to produce

type

Normal ice cream

Yogurt ice cream

Different flavours

Original flavour only

Quantities

How to produce

Techniques

Labour intensive

quantity of worker

Capital intensive

type of machine

youghurt ice cream making machine

quantity of machine

Resources

Quantity to be produced

For whom to produce

Teenagers

Kids

Adults

People who are concious of their health eg.elderly

setting up another kind of stall

go university to study

Setting up stall in other areas

Working part-time in other companies

Time used up in selling yoghurt ice-creams

Distribution of Income

Government policy

Population

Greater the population is, greater the demand is

Composition

More young people are. greater the demand

Availability of credit and cost of credit

Tastes and Preferences

Experices of consuming the yogurt ice cream on prevoius occasion

Advertising of yogurt ice cream

Health considerations

Expectation of future prices and incomes

Price of substitutes

Increse of the income of people

price of complementary goods

Prices of other related goods

Substitutes(Goods in competitve demand)

Ice-cream form McDonald

Andersen’s Ice cream

Ice cream from My dessert house

Complementary goods(goods in joint demand)

Toppings

Sprinkles

Fruits

Nuts

Ice cream cone

Income of Singaporeans

Normal Good

Unique yoghurt ice-cream

Inferior Good

Ordinary ice-creams

Price of the yogurt ice cream itself

The higher the price , the lower the demand

Price of yoghurt ice-cream

The higher the price is, the higher the supply is

Cost of Production

Change in costs of factor prices

Cost of Milk

State of teechnology

Performance of machines and labour

Quality of milk

Organisation and management

Techniques of production of milk

Prices of related product

Goods in competitive supply

Andersen’s Ice-cream

Ice-cream at My dessert house

Ice-cream from McDonald

Goods in joint supply

toppings

Sprinkles

Fruits

Nuts

ice-cream cone

Producers' expectations of prices

Changes in price of yoghurt ice-cream

Changes in factor prices

Changes in price of milk

Changes in price of cone

Changes in price of sprinkles

Changes in price of fruits and nuts

Size of the industry

Natural Factors

Changes in weather conditions

Widespread epidemic

Government policies

Taxes and subsidies

Increase in cost of production