For our research, we collected both quantitative and qualitative data; we distributed questionnaires to U.B. students to collect our quantitative data, and we did interviews with tacos vendors to collect our qualitative data. We use the questionnaire to understand what the consumers’ preferences are related to tacos, how often they consume and if they have any preferred substitutes, and for the interviews, we understand the supply of tacos from the different vendors. There are three main determinants in the tacos industry – income, population and consumer expectation. Income is based on the amount of money the person receives daily or weekly, and population is depending on who wants to buy the tacos. Consumer Expectation is based on the taste and the different options of pepper sauce, meat, or tortilla.
ANALYSIS OF THE DEMAND FOR TACOS AMONGT UB STUDENTS 14 In our research, 90% of our responses would buy less tacos if the price of tacos increased. The participants say that if the price of tacos increased, they would substitute buying rice and beans than buying tacos. In a breakfast reference, the main substitute to buy over tacos if the price increase is Gacho. Out of our participants, 91% of our participants say that they eat tacos, and 57% says that there is many tacos vendors in their area. Out of the 91% of participants, 40% says that they buy and eat tacos because of the taste and quality from that specific location. Since there is a lot of tacos vendors in some areas, it means that there is freedom of entry and exit in the tacos industry. Overall, tacos has a high demand among students at the University of Belize. The tacos industry is a monopolistic competition, where there are many sellers and consumers in the industry. The demand is based on the location of the vendor, the taste and quality of the tacos, and the price availability of the tacos. The prices are formed by comparing it to the other competitors in the industry, finding the equilibrium and making the right price to sell the tacos. Lastly, among University of Belize, Belize City Campuses, there is a high demand for tacos among the students.
ANALYSIS OF THE DEMAND FOR TACOS AMONGT UB STUDENTS 15 Recommendations
ANALYSIS OF THE DEMAND FOR TACOS AMONGT UB STUDENTS 16
ANALYSIS OF THE DEMAND FOR TACOS AMONGT UB STUDENTS 17 References Baye,M. R. (2010). "Managerial Economics And Business Strategy". 7 th Edition, McGraw Hill, New yor
- Fall '20
- Supply And Demand, University of Belize