Supply and Demand Activity.docx

Supply and Demand Activity.docx - SUPPLY AND DEMAND...

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SUPPLY AND DEMAND ACTIVITY: Description Buyers Buyers are given a maximum price. This means you can’t buy above this price Buyers in a competitive market always look to buy at the lowest possible price, in order to get the best deal for themselves How to calculate a buyer’s profit: Buyer profit = buyer’s max price – sold price Sellers Sellers are given a minimum price. This means you can’t sell below this price. Sellers in a competitive market always look to sell at the highest possible price, in order to maximise their profits How to calculate a seller’s profit Seller’s profit = sold price – seller’s minimum price Your goal is to make as much profit as you can by negotiating a favourable price. The person who has the most profit after four rounds will receive a prize!!! You can only trade once each round Once you have made your deal, go tell me your selling price to record on the front board
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Christopher Reinemann
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