Factors Affecting Demand

Supply and demand is what drives product sales in a capitalist system. If a product is in great demand, then the value of the product is increased in order to meet that demand, and if a product is over-supplied, then its value is lessened because of over-availability. Go ahead and complete the following practice on what supply and demand can mean based on our classroom conversation of the hot dog stand.

Factors Affecting Demand

To Complete:

1. Participate in class discussion on demand and detriments.

2. Utilizing internet, complete the above ‘sheet’ on your own sheet of paper.

3. Give me what you did.

 

Enter the Tank (150, 300, or 450 points)

Shark Tank

 

 

All right, this is what it’s all about- The Tank. We’ve watched many people enter the tank with their businesses, ideas, and inventions and have been thoroughly impressed. Well, now it’s your turn. You are going to enter the tank hoping to sell your business to a team of ‘investors’ who will determine your point total. If you just present the task, but the investors are unimpressed/uninterested/unwilling to consider an investment, then you will receive 150 points. If you can manage to convince the evaluators that you have a worthy-to-invest-in business, then you will receive 300 points. And if you are what the ‘investors’ consider the top business in the class, then you will receive 450 points, making the 2150 threshold much more attainable. But you’ll have to earn the opportunity to convince the investors. Here’s how: in the week prior to senior finals week (May 11th-15th), all discrete math students will present their businesses to me (with the rest of the class evaluating) in the same manner that those that appear on Shark Tank do (show the product, detail the sales, convince us your business is a success and deserves further consideration and investment). The presentation is entirely up to you as to how you want to go about it- there is no template. Do whatever you think is appropriate to sell yourself (Powerpoint, actual demonstration of the product, a financial analysis, etc…). Each student in the class will then evaluate the presenters on a 1-5 scale (5 being better). The 3 presenters with the highest average scores from the class will then present to the Sharks in the next week* in hopes of getting the 450 points (only one business will receive this). Simple enough, now let’s see who has the chops to make this happen!

*all students are expected to come to the ‘final’ to view the Shark Tank contest whether or not they are participants. We’ve come a long way, and everybody is invested in what we did this year in this class. Half of the 150 points you receive for this final presentation come quite simply from your presence on this day. (conflicting schedules for school-related issues will be dealt with on a case-by-case basis) Please, let’s not make this an issue and just schedule that 1 hour of our lives as a must-do. Thanks.