Econs Q2

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Microeconomics - 2G03 - Chapter 1

Ved Remek Debski

English Activity Model Canvas

Ved Andrea Sanchez Zamudio

THE ECONOMY AND ITS SECTORS

Ved Txema Betes

CHAPTER 2. PERSONAL FINANCIAL STATEMENT

Ved FARAH DALILA ABDUL KARIM

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