Econ Scenarios
No Description
MORE DECKS TO EXPLORE
PRESENTATION OUTLINE
Income
I get a raise at my job and now I make twice as much as minimum wage. Would I buy an iPhone or a flip phone?
Answer: An iPhone
Factor: Getting a raise
Photo by Yutaka Tsutano
Consumer Expectations
Loren is at the mall looking for homecoming shoes. She overhears a girl at the register say that there will be a shoe sale next week. Will Loren buy shoes today or next week?
Answer: Next week
Factor: The girl's info at the register
Photo by timparkinson
Population
Nick is selling candy in a rural town. He takes his business to New York City. Will he sell more candy or less candy?
Answer: More Candy
Factor: he moved to NYC and there's a higher population, so demand increased
Photo by Stuck in Customs
consumer tastes/advertising
Selena Gomez wears a dress at the Grammy's. She told an interviewer the dress was made by Joe. What happens to the popularity of the dress designed by Joe?
Answer: the dress becomes popular, everyone wants it. So everyone buys the dress from Joe.
Factor: a famous person advertising it.
Photo by Thomas Hawk
Price of related goods
There is a sale on cereal. A box of cereal costs only 50¢ and milk is regular price. Will people buy cereal and still buy milk at its regular price?
Answer: yes
Factor: Cereal and milk are compliments and tend to be bought together
Photo by RobertFrancis
