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ORIENTACIÓN
Lea con atención el texto “Supply and Demand”, que se encuentra en el objeto de
aprendizaje de la Actividad de Proyecto 4, y conteste:
2. According to the text, mention the things people take into account to determine the
demand.
1. Tastes or preferences
Consumers may demand for an item one year and ignore it the next.
2. Number of consumers
A large quantity of buyers carries to an increase in demand; a small quantity of buyers
carries to a decrease (Franny Chan website).
3. Income
When income rises, the quantity demanded will rise too. When income falls, the demand of
that product will fall too (Franny Chan website).
4. Consumer expectations
Purchasers are interested in satisfying their consumption regarding quality as the most
important factor. Likewise, the lead price has an effect on the potential increase of the
consumer´s final decision.
5. Price of related goods
There are two kinds of related goods that can affect the demand: substitutes (for example,
butter and margarine) and complementary (toys and batteries).
5. Write the vocabulary (20 words) from the reading, and make a Glossary: Organize
the words in alphabetic order and write the meaning of each word.
http://www.businessdictionary.com/definition/packaging.html
11 Partner The legal relationship between two parties, having specific
rights and responsibilities as a common company.
12 Passion Emotion, feelings. The emotions as distinguished from reason, a
strong taste or devotion for some activity
13 Planimetry
14 Planning To transform and develop marketing objectives to marketing
strategies.
15 Presentation It refers to the performances of presenting any of the 9P’s to your
suppliers, customers, clients, or partners. A descriptive or
persuasive account (Set forth for the attention of mind).
16 Price It´s is the amount a customer pays for the product. it includes
Retail price/wholesale, discounts, quantity discounts, credit terms,
sales and payment periods.
17 Product It´s the tangible object or service that can be offered to a market
for acquisition, use or consumption that might satisfy a want or
need.
18 Sales Systems It is a set of principles, processes, strategies and tools that are
put into place to bring the company results day-in and day-out
19 Supply The total amount of a product (good or service) available for
purchase at any specified price.
20 Technology a manner of accomplishing a task especially
using technical processes, methods, or knowledge
6. Write a ten lines text that summarizes the topic of the activity.
Supply and demand is perhaps one of the most fundamental concepts of economics and it
is the backbone of a market economy. Demand refers to how much (quantity) of a product
or service is desired by buyers. The quantity demanded is the amount of a product people
are willing to buy at a certain price; the relationship between price and quantity demanded
is known as the demand relationship. Supply represents how much the market can offer.
The quantity supplied refers to the amount of a certain good producers are willing to supply
when receiving a certain price. The correlation between price and how much of a good or
service is supplied to the market is known as the supply relationship. Price, therefore, is a
reflection of supply and demand.
The relationship between demand and supply underlie the forces behind the allocation of
resources. In market economy theories, demand and supply theory will allocate resources
in the most efficient way possible. How? Let us take a closer look at the law of demand and
the law of supply.