Supply & Demand - McGraw-Hill Introduction to Business

Demand for Hand Sanitizer Skyrockets by More than 1,000 Percent

March 10, 2020

Last week we looked at how fears over coronavirus have caused major events to cancel and governments to restrict travel. Since then, organizers of South By Southwest have called off the festival while Italy has expanded emergency measures for the entire country. That means no public gatherings will be allowed in the Mediterranean nation along with a general ban on travel for all citizens unless they receive special permission. This global escalation of tensions surrounding the Covid-19 virus has Continue reading →

Labor Relations, Health, Supply & Demand, Coronavirus, Global, Pricing, Ethics, Regulation, Manufacturing, Supply chains

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 12: Labor Management and Unions, Bonus Chapter A: Business Law

Poor Potato Crop Leads to Fears of French Fry Shortage

December 6, 2019

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This week, multiple news outlets reported about a poor potato crop in Canada and the U.S. that could potentially affect the nation’s French fry supply. With winter weather arriving early throughout North America, potato growers lost thousands of acres of crops due to freezing temperatures. As a result, the U.S. Department of Agriculture estimates that American spud production will drop by six percent this year. And since potatoes used for French fries tend to be harvested later in the season, Continue reading →

Canada, Supply chains, Weather, Product Distribution, Agriculture, Supply & Demand

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 9: Production and Operations Management, Chapter 15: Distribution

[VIDEO] Why Spend Money in Video Games?

November 21, 2019

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Analysts estimate that last year consumers spent more than $50 billion on virtual items in video games like Counter-Strike and World of Warcraft. This lengthy but highly informative video explains why the market for virtual items has grown bigger than global box office returns for the movie industry.

Questions:

How are in-game economies similar to real-world economic systems?
What are the advantages and disadvantages of online marketplaces that sell virtual goods?

Popeyes Sells Out of Blockbuster Chicken Sandwich

August 29, 2019

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On August 12, Popeyes announced that it was adding a new chicken sandwich to menus across the nation. The first of its kind at the fast food chain, Popeyes said this was its biggest product launch in more than 30 years. The sandwich soon became a hot topic on social media and grabbed the attention of more than just hungry customers. In the days following the launch, Chick-fil-A started a social media feud with Popeyes over which chain had the Continue reading →

Sneaker Site StockX Grows into $1 Billion Operation

August 27, 2019

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Today’s top sneaker brands like Nike and Adidas are constantly releasing new designs in limited supplies. As a result, many “sneakerheads” often miss out on the latest styles while they’re available at retailers. That’s where resale sites like StockX come in. Unlike eBay, StockX doesn’t rely on straightforward auctions to move its merchandise. Instead, the company treats sneakers like tradable commodities that can quickly gain and lose value. For example, a pair of Nike’s Jordans could debut on StockX at Continue reading →

Pricing, Marketing, Resale, Product Distribution, E-commerce, Footwear, Supply & Demand, Stock Market, Ebay, Clothing

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 19: Securities Markets, Bonus Chapter B: Technology and New Media

Virtual Restaurants Rely on Rising Demand for Delivery

August 15, 2019

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In 2017 Ricky Lopez opened a Top Round franchise in San Francisco’s Mission District. With all sorts of well-established competition in the area already, the chef and entrepreneur says that his roast beef business lost tens of thousands of dollars in its first eight months. Then last year a representative from Uber Eats informed Lopez that his area had a high demand for burgers and ice cream that was going unmet. To take advantage of this opportunity, the food delivery Continue reading →

Product Development, Operations Management, Branding, Entrepreneurship, Product Distribution, Restaurants, Food & Drink, Supply & Demand

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

Party City Will Close 45 Stores Due to Helium Shortage

June 25, 2019

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For decades, the New Jersey-based party supply retailer Party City has relied on balloon sales to keep it afloat. Doing so requires a plentiful supply of helium, the second-most abundant element in the universe that is nevertheless increasingly difficult to find on Earth. Due to both supply chain and production problems, companies are currently using up helium at a quicker rate than it can be produced. As a result, the skyrocketing price of helium has begun to spoil the fun Continue reading →

Retail, Supply chains, Product Distribution, Supply & Demand, Economics, Party City, Operations Management

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 9: Production and Operations Management, Chapter 15: Distribution

Green Products Are Too Expensive for Many Americans

March 28, 2019

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From metal water bottles to sustainable comforters, green-minded companies have created a wealth of options for today’s eco-friendly consumers. But while many of these products are good for the environment, they’re often too expensive to make a big impact on the marketplace. For instance, a startup named LARQ sells a stainless-steel water bottle with an ultraviolet light in the cap that purifies any water poured through it. Although this product is meant to serve as an alternative to $2 plastic Continue reading →

Product Development, Economics, Pricing, Marketing, Sustainability, Ethics, Supply & Demand, Entrepreneurship

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price