Set up a yoghurt ice-cream stall after 'A'-levels examinations - PDG:07/12, Group 3

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Set up a yoghurt ice-cream stall after 'A'-levels examinations - PDG:07/12, Group 3

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Supply Factors

Non-Price determinants of supply

Government policies

Taxes and subsidies

Increase in cost of production

Natural Factors

Widespread epidemic

Changes in weather conditions

Size of the industry

Producers' expectations of prices

Changes in factor prices

Changes in price of fruits and nuts

Changes in price of sprinkles

Changes in price of cone

Changes in price of milk

Changes in price of yoghurt ice-cream

Prices of related product

Goods in joint supply

ice-cream cone

toppings

Goods in competitive supply

Ice-cream from McDonald

Ice-cream at My dessert house

Andersen’s Ice-cream

Cost of Production

State of teechnology

Techniques of production of milk

Organisation and management

Quality of milk

Performance of machines and labour

Change in costs of factor prices

Cost of Milk

Price Determinants of supply

Price of yoghurt ice-cream

The higher the price is, the higher the supply is

Demand Factors

Price Determinant

Price of the yogurt ice cream itself

The higher the price , the lower the demand

Non-price Dterminant

Prices of other related goods

Income of Singaporeans

Inferior Good

Ordinary ice-creams

Normal Good

Unique yoghurt ice-cream

Complementary goods(goods in joint demand)

Ice cream cone

Toppings

Nuts

Fruits

Sprinkles

Substitutes(Goods in competitve demand)

Ice cream from My dessert house

Andersen’s Ice cream

Ice-cream form McDonald

Expectation of future prices and incomes

price of complementary goods

Increse of the income of people

Price of substitutes

Tastes and Preferences

Health considerations

Advertising of yogurt ice cream

Experices of consuming the yogurt ice cream on prevoius occasion

Availability of credit and cost of credit

Population

Composition

More young people are. greater the demand

Greater the population is, greater the demand is

Government policy

Distribution of Income

Opportunity Cost

Time used up in selling yoghurt ice-creams

Working part-time in other companies

Setting up stall in other areas

go university to study

setting up another kind of stall

Choice

For whom to produce

People who are concious of their health eg.elderly

Adults

Kids

Teenagers

How to produce

Resources

Quantity to be produced

Techniques

Capital intensive

quantity of machine

type of machine

youghurt ice cream making machine

Labour intensive

quantity of worker

What to produce

Quantities

type

Yogurt ice cream

Original flavour only

Different flavours

Normal ice cream

Scarcity

Limited Resources

Manufactured Resources

Capital

Human resources

Entrepreneurship

Labour

Mental effort

Physical effort

Natural resource

Land materials

Venue

Raw materias

Sugar

Yoghurt culture

Milk