Categories: All - income - preferences - production - demand

by Amelia Yap 13 years ago

238

Econs Q2

Starting a yogurt ice cream store involves analyzing multiple factors that impact both demand and supply. On the demand side, the presence of substitutes like Andersen's and McDonald'

Econs Q2

Econs Q2 Setting Up Yogurt Ice Cream Store

Supply

goods in joint supply
Supply of milk increase

Supply of yoghurt increase

Government Policies
Subsidies to help Small Medium Enterprises
Size of industries
more yoghurt shops, increase in supply
Natural Factors
Cow contracts disease which prevents them from lactating and producing milk. LOL
Cost of Production
Higher prices of milk

Lower supply of yoghurt

Demand

Price
Greater Price= Smaller demand
Substitutes
Other options (Andersen's ice-cream, Mcdonalds Ice-cream etc.)
Taste and Preferences
More Health Conscious

Reduces risk of getting High Blood Pressure

Income
Singaporeans are more affluent now

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