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Demand and Supply Analysis Project

This project analyzes the demand and supply of ice cream, a popular local product, focusing on factors such as price, income, and seasonality. It includes a survey of consumer preferences and presents demand and supply graphs to illustrate key findings, such as peak demand in summer and the influence of local vendors. The conclusion emphasizes the importance of understanding demand and supply dynamics for informed decision-making by consumers and sellers.

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48 views3 pages

Demand and Supply Analysis Project

This project analyzes the demand and supply of ice cream, a popular local product, focusing on factors such as price, income, and seasonality. It includes a survey of consumer preferences and presents demand and supply graphs to illustrate key findings, such as peak demand in summer and the influence of local vendors. The conclusion emphasizes the importance of understanding demand and supply dynamics for informed decision-making by consumers and sellers.

Uploaded by

tittuu015
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Economics Project - Class 12

Project Title

Demand and Supply Analysis of a Local Product: Ice Cream

Index

1. Introduction

2. Objectives

3. Meaning of Demand and Supply

4. About the Selected Product

5. Factors Affecting Demand

6. Factors Affecting Supply

7. Survey/Interview (with charts)

8. Demand & Supply Graph

9. Key Findings

10. Conclusion

11. Bibliography

Introduction

This project aims to analyze how the demand and supply of a locally popular product are determined and

influenced by different factors such as price, income, taste, season, etc. For this study, we have selected ice

cream, which is widely consumed in the local market.

Objectives

- To understand the concepts of demand and supply.

- To study the factors that affect demand and supply.

- To conduct a small survey of consumers/sellers.

- To draw a demand and supply curve for the product.

- To analyze how pricing, season, or trend affects demand.

Meaning of Demand and Supply


Economics Project - Class 12

Demand is the quantity of a product that consumers are willing to buy at different prices. Supply is the

quantity of a product that producers are willing to sell at different prices.

About the Selected Product

Ice cream is a popular dessert especially in summer. It is available in various price ranges from Rs.10 to

Rs.200 and is sold by local vendors and branded outlets. The product is largely affected by seasonal

changes.

Factors Affecting Demand

- Price of ice cream

- Income of buyers

- Weather/season

- Tastes & preferences

- Availability of substitutes

Factors Affecting Supply

- Cost of production

- Weather conditions

- Availability of raw materials

- Number of sellers

- Technology used

Survey/Interview (with charts)

A small survey was conducted with 20 people. Questions included frequency of purchase, preferred price

range, impact of weather, and source (local/brand). The results were shown through pie and bar charts (to be

added manually).

Demand & Supply Graph


Economics Project - Class 12

A simple graph was plotted with quantity on the X-axis and price on the Y-axis. The demand curve slopes

downward while the supply curve slopes upward. The intersection shows the equilibrium point.

Key Findings

- Demand is highest in summer.

- Students and children are major consumers.

- Pricing and income levels affect demand.

- Local vendors offer lower prices but fewer options.

Conclusion

The study shows that demand and supply are real concepts that affect everyday products. Understanding

these forces helps consumers and sellers make informed decisions.

Bibliography

- NCERT Economics Class 12

- Local market survey

- Interviews

- Internet sources

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