Producer or Consumer?
Mrs. Gauthier at Target?
Consumer
Give two examples of a service
Dog Wash, hair cut, cleaner, painter...
What season can you buy the cheapest swimsuits?
Winter
Haircut?
Service
What is another word that means consumer?
Customer
Doctor?
Producer
What is a producer?
The Switch 3 just came out... There is very limited supply. What will happen to the price?
The cost will increase
McDonalds?
Goods
What is a consumer?
Kids running a lemonade stand?
Producers
Define goods
A product that is made or grown
Halloween is over. What happens to the demand? What happens to the cost? Why?
The demand decreases, so the cost decreases.
Target?
Goods
What is a company's supply?
The amount of product or resources a company has available to sell
Students?
Consumers
Too much Demand
Not enough product.
What am I?
Scarcity
Oh no! Your company has a surplus of product. How can you increase demand?
- Lower the cost (Sale)
- Increase advertising
Coach?
Service
Too much product.
Not enough demand.
What am I?
Surplus