Supply+Demand
What direction does the demand curve for turkeys shift on Thanksgiving week?
right
Why are consumers this year choosing to buy fewer premade items?
They are sacrificing convenience to save on cost
Between the markets of Turkey and Beef, which would increase in demand the most around Thanksgiving
Turkey Market
What happens to the demand for stuffing after Thanksgiving?
It declines majorly
What is the name of the unofficial shopping holiday 4 days after Thanksgiving?
Cyber Monday
What direction does the supply curve for turkeys move on Thanksgiving week?
supply moves ALONG the curve
Why do 59% of consumers do their shopping over the holiday weekend?
To take advantage of deals and discounts
If demand for turkey rises exponentially around Thanksgiving, how does that affect the demand for stuffing
Demand for stuffing increases, as it is a complement of Turkey
Many stores run out of holiday items close to Thanksgiving. How can consumers prepare for potential supply chain issues or shortages?
plan meals in advance and shop early
What is the most popular day to shop during Thanksgiving weekend?
Black Friday
If the price of ham decreases, what will happen to the demand for turkey?
it will decrease
In addition to seasonal goods, 72% of consumers plan to use holiday deals to buy what?
everyday goods
If demand for Ham increases exponentially around Thanksgiving, how does that affect fidget spinners
Demand for fidget spinners is unaffected by demand for Ham. Because, they are in separate markets
Why do turkey prices sometimes fall around Thanksgiving despite high demand?
Producers have a large supply of turkeys and want to sell them all
How many millions of turkeys are consumed every Thanksgiving?
46
How is the supply of turkeys affected leading up to Thanksgiving?
Producers increase their supply to meet the anticipated high demand
To save on costs, 48% of hosts are asking their guests to bring what?
a dish of their own
Why would demand for Turkey fluctuate throughout the year?
Because of Thanksgiving and hunting seasons.
As food prices remain high (around Thanksgiving), what consumer behavior changes are the most prominent
Consumers pay more attention to price when choosing what product to purchase
The price of turkey drops by what percent before Thanksgiving?
20%
The price of turkey feed increases due to supply shortages. What direction does the turkey supply curve move?
left
This year, 56% of consumers say their purchases will be based on ______ as opposed to what they actually want
prices and deals
If the market for turkey were to remain steadily high instead of fluctuating as much as it does regularly, how would that affect the markets for other meats?
Other meats would slightly decline in demand and possibly become holiday specialties rather than everyday foods.
Aside from inflation, why are turkey prices rising?
Avian Flu outbreaks
How much money does the average American spend over Thanksgiving weekend?
$235