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iPad Economics WebQuest: Analyzing Pricing and Demand Trends After External Events

This WebQuest delves into the economics behind the iPad's pricing process, equilibrium point, and the impact of external events like the release of iPad 2 and a 5.8-Magnitude Earthquake in China on demand and consumer preferences.

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iPad Economics WebQuest: Analyzing Pricing and Demand Trends After External Events

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Presentation Transcript

  1. Economics: WebQuest The iPad

  2. Members Charlie Ang Celestine Tang Joaquin Ong Michael Lim MagdelineSim Wilfred Wong

  3. The Apple iPad • Introduced on January 27, 2010 • Officially released April 2010

  4. $$Pricing$$ • Determined by: • Relationship between quantity demanded and quantity supplied

  5. Pricing Process • Quantity Demanded • Price • Rationing Function • Price at Equilibrium Point = Cost Price • Equilibrium Point • Quantity Demanded

  6. Associated products

  7. External Developments Release of iPad 2 5.8-Magnitude Earthquake In China

  8. LOL JK

  9. Released 25 March 2011 • More functions and better capabilities than iPad 1st Gen • Superior substitute • Leads to change in consumer preference • Quantity demanded for iPad 1st Gen

  10. HOW does this affect the iPad1?

  11. Quantity Demanded for iPad2

  12. 5.8 Magnitude earthquake in China

  13. HOW does this affect the iPad1?

  14. Claims lives + • Damages Infrastructure + • Destroys Land • Rationing Function • Quantity Demanded • Surplus • Factors of production • Cost of Production • Price • Price

  15. Joaquin Ong Michael Lim Celestine Tang Wilfred Wong “Charlie” Ang Wee Pin “Magdeline” Sim Li Ying Mr Robin Hon MJC Economics Department THE END!!! :D

  16. http://en.wikipedia.org/wiki/Ipad http://en.wikipedia.org/wiki/Ipad_2 http://11s103.wikispaces.com/ http://shanghaiist.com/2011/03/11/58_magnitute_earthquake_in_yunnan_k.php

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