Scarcity

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Scarcity

• Goods and/or resources that are limited in number.

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Ferrari Supercars

• Every few years, Ferrari builds a very rare
  supercar. The car is very fast and very
  expensive. The cars usually sell above the
  asking price.

For example, lets say you go through the lunch
line and you pay 4 instead of the usual 2.
Sounds crazy doesnt it?
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Lets look at some examples!
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Ferrari F40 1987-1992
Price 400,000
Number of cars 1,315
Todays price still at 400,000
Ferrari was only going to build 400. Demand
for the F40 was high, so they built 1,315.
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1,315 cars sounds like a big number doesnt it?
Lets see how many Ford Mustangs were produced in
2004.
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2004 Ford Mustang
Original price for convertible 28,015
Price today 19,900
Number of cars 141,907
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Ferrari F50 1996-1997
Price 500,000
Number of cars 349
Todays price over 700,000
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Ferrari F60 Enzo 2002-2004
Price 650,000
Number of cars 399
Todays price over 1,000,000
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You could not buy the Ferrari Enzo unless


You already owned a F40 AND F50.
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The Ferrari FXX 2006
This is a very rare and expensive car!
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If you want one.
You cant have one.
Price 1,800,000
Number of cars 29
Not street legal, used only on race tracks
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Why are these cars so expensive?
Why havent they decreased in price?
What might cause the prices to increase?
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Discuss these questions with your group.