Economics SBA

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ACKNOWLEDGEMNETS I would like to thank my teacher Mr Best for his guidance, my family members for their support and advice and I would also like to thank the respondents to my questionnaire and interview.

Transcript of Economics SBA

Page 1: Economics SBA

ACKNOWLEDGEMNETS

I would like to thank my teacher Mr Best for his guidance, my family members for their support and advice and I would also like to thank the respondents to my questionnaire and interview.

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INTRODUCTION

Since the café is the only café in the school this café is a monopoly. Since it’s a monopoly the demand for the food at the café will be high.

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TITLE

The investigation into the demand of chicken and chips in the café of Cowen Hamilton Secondary School.

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OBJECTIVES

To examine the principal factors affecting the demand of chicken and chips from the café.

To determine the price elasticity of demand on the good.

To examine the demand of chicken and chips in the café and its substitutes and complements.

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METHODOLOGY

 The SBA was conducted on the compound of Cowen Hamilton Secondary School. A primary source provides direct or first-hand evidence about an event, object, person, or work of art. Secondary sources describe, discuss, interpret, comment upon, analyse, evaluate, summarize, and process primary sources. Secondary source materials can be articles in newspapers or popular magazines, book or movie reviews, or articles found in scholarly journals that discuss or evaluate someone else's original research. Primary Sources are information that was conducted by the person himself it’s also known as field data. Secondary data is information which had been already collected.

 

Primary Sources Secondary sourcesQuestionnaire InternetFormal Interviews Textbook

ADVANTAGES OF SECONDARY SOURCESS

DISADVANTAGES OF SECONDARY SOURCES

You will be able to obtain the Not all of the informationinformation needed faster obtained from the internet is accurate

 

 

 

 

ADVANTAGES OF PRIMARY SOURCESS

DISADVANTAGES OF PRIMARY SOURCES

You'll get first hand The person may give you wronginformation about the topic information

 

 

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LIMITATIONS

The following limitations were faced:

Some students did not take the questionnaire seriously. Students did not understand some of the questions.

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PRESENTATION OF DATA

Question 1. Twenty-five of the respondents bought chicken and chips and the café while five respondents don’t buy chicken and chips at the café.

yes83%

no17%

Do you buy chicken and chips at the cafe?

Yes 25 No 5

Question 2. At the price of $20, twenty of the respondents bought only one chicken and chips per week, seven respondents bought two per week three bought an unstated amount.

1

2

Other

0 5 10 15 20 25

1; 20

2; 7

Other; 3

At a price of $20 how much Chicken and chips do you purchase per week?

1 20 2 7 other 3

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Question 3. Ten respondents choose to substitute chicken and chips with chicken sandwich, eight choose to substitute it with hot dog, ten also substitute it with cheese sandwich and two choose other.

Other 2 Hotdog 8Cheese Sandwich 10 Chicken Sandwich 10

Question 4. Twelve of the respondents bought only one per week; eleven bought two per week whilst seven bought an unstated amount.

Chicken sandwich

Cheese sandwich

Hotdog

Other

0 2 4 6 8 10 12

If there’s no chicken and chips available in the café what would you buy in-

stead?

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1 12 211 other 7

Question 5. Eight of the respondents said that they will buy more of the chicken and chips whist twenty-two said that they will buy less.

Yes I would buy more

No I would buy less

0 5 10 15 20 25

Yes I would buy more; 8

No I would buy less; 22

If the price of chicken and chips increased by $5.00 would you buy more or less of

your substitute good.

No I would buy less 22 Yes I would buy more 8

Question 6. Twenty of the respondents said that they’ll buy one more, ten of the respondents said that they’ll buy two.

140%

237%

Other23%

How much per week?

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167%

233%

If yes how many?

1 20 2 10 Other 0

Question 7. Seventeen of the respondents said that they buy Coco-Cola, five of the respondents said that they’ll buy Busta, three said that they purchase other drinks and five said that they purchase Mountain Dew.

Coco Cola Mountain Dew Busta Other0

2

4

6

8

10

12

14

16

18Coco Cola; 17

Mountain Dew; 5 Busta; 5

Other; 3

When buying chicken and chips at the café what drinks do you usually purchase?

Coco-Cola 17 Mountain Dew 5 Busta 5 Other 3

Question 8. Eighteen of the respondents said no whilst twelve said yes.

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yes40%

no60%

If the price of chicken and chips were to increase by $5.00 would you still

buy it?

Yes 12 No 18

Question9. Fifteen of the respondents said that they’ll buy the same amount, twelve said that they’ll buy less whilst three said that they’ll buy more.

Same amount less more0

2

4

6

8

10

12

14

16Same amount; 15

less; 12

more; 3

If yes how much would you buy?

Same amount 15 Less 12 More 3

Question10. Twenty- two of the respondents said that the price had an impact on their choice to buy chicken and chips. Five of the respondents said that the location had an impact on their choice. Two of the respondents said that the

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complements had an impact whilst one of the respondents said that taste had an impact.

Price Taste/Fashion Location Cmplements (e.g. beverages)

0

5

10

15

20

25Price; 22

Taste/Fashion; 1

Location; 5Cmplements (e.g.

beverages); 2

What factor affects your choice for Chicken and Chips?

Price 22 Taste/Fashion 1 Location 5 Complements 2

Question 11. One of the respondent said that the quality of the food is excellent, whilst twelve said that it is very good, fifteen said that is good and two said that is satisfactory.

Excellent Very Good Good Satisfactory 0

2

4

6

8

10

12

14

16

Excellent; 1

Very Good ; 12

Good; 15

Satisfactory ; 2

What would you rate the quality of the food as?

Excellent 1 Very Good 12 Good 15 Satisfactory 2

Question12. Twenty-one of the respondents said yes whilst nine said no.

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Yes21

No9

Question13. Two of the respondents said that the good is affordable, fifteen said that it is reasonable, eleven said that it is expensive and two said that it is very expensive.

Very Expensive

Expensive

Reasonable

Afforadable

0 2 4 6 8 10 12 14 16

Very Expensive; 2

Expensive; 11

Reasonable; 15

Afforadable; 2

Chicken and chips in the market is?

Affordable 2 Reasonable 15 Expensive 11 Very Expensive 2

Question14. Three said that the chicken and Chips has an high value for money, twenty-one said that it has an normal value for money, six said that it has a low value for money and zero said that it has a poor value for money.

yes70%

no30%

If a competitor offers a lower price than exist -ing price of chicken and chips, would you pur-

chase the product?

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High value for money Normal value for money Low value for money Poor value for money0

5

10

15

20

25

High value for money; 3

Normal value for money; 21

Low value for money; 6

Poor value for money; 0

How do you perceive the existing price for chicken and chips in terms of value for

money?

High value 3 Normal value 21 Low value 6 Poor Value 0

Question15. Nineteen of the respondents disagree, six are neutral and five agree.

Agree; 5

neutral ; 6Disagree; 19

Do you think if chicken and chips that are offered at a higher price have better quality

than their competitions?

Disagree 19 Neutral 6 Agree 5

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INTERPRETATION AND ANALYSIS OF DATA

Thirty questionnaires were given out to students in Cowen Hamilton Secondary

School in form four. Fifteen of the of the respondents were female students

between the age fourteen to fifteen (14-16).The other fifteen were given to male

students between the age fourteen to fifteen (14-15).

Demand refers to the desire for a good or service. Price is the most important

factor affecting demand for chicken and chips at the café twenty dollars,

($20.00). Location is the next most important factor affecting demand. Figure 1

shows the demand for chicken and chips at the café at both prices.

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The first

law of

demand states that as prices rise quantity demanded of a good fall. Therefore

there is an inverse relationship between prices and demand. Price elasticity of

demand (PED), measures the responsiveness of quantity demanded to a change

in the price of the good. Figure 2 shows the formula to calculate PED.