Demand in the Marketplace

1
Demand in the Marketplace

• Understand and identify the 3 pieces of
  marketplace demand
• Explain microeconomics and its place in economic
  theory
• Analyze a real world market to examine demand
  within it

2
Microeconomics

• Point of reference when examining an economy
• Def piece of economic theory that deals with
  behavior and decision making
• People and businesses
• Prices determined
• Supply determined
• Individual decision making

3
Demand Details

• Def The desire, ability, and willingness to buy
  a product
• More than just wanting somethingneed all 3
  pieces to be counted in the marketplace
• Ex Private airport vs. Chipotle burrito

4
Watch

• http//www.youtube.com/watch?vTNdqOKzur-Q
• Where is the demand?
• Desire?
• Ability?
• Willingness?

5
List

• 10 products that have demand in the marketplace
• Be specificfood doesnt count
• Be ready to share

6
Act

• Read and answer the questions relating to the
  Oculus Rift release