Running In Place

Your One-Stop Crash Course on Economics

By:

Lindsey Giaccio, Marisol CunninghamDomenic Dehelean, Sarah Gibson

& Matthew Posey

What Gets Produced is Affected by Consumer Needs

Certain Features and Costs of a Product will attract Certain Consumers

Athletes would go for Better Design and a Costlier Shoe, while Cheaper Material

would be sought out by Money-Conscious Families

Cost & Resources Used Will Affect Consumer Interest

Higher Quality Which Would Cost More to Produce Would Appeal to Those Seeking It

Lower Quality that Costs Less Would Appeal to Those Just Looking for a Pair of Shoes

Self Interest Dominates How Resources Are Used

Companies Will Use Resources That Will Make Them the Most Money, While

Consumers will Buy What Makes Them Happiest.

You Should Appeal to the Wants of Consumers

Consider What Materials to Use, the Skill of the People Product is Made By, and the Cost of the Entire Product in its Finalized

State

Consumers will Buy What Appeals to Them; Sculpt These Factors to Appeal to the

Greatest Amount of Consumers

In Simple Words...

Make the Shoe in a Way that Will Make the Most People Want to Buy It.

Use Materials that are of High Enough Quality to Appeal to More People to Earn the Most

Money.

Our Recommendation for Maximum Profit

A Shoe that is:

Similar to Athletic Shoes in DesignMade of Cheaper Material

Manufactured by Unskilled LaborersIs Sponsored by Beckett

Why You Should Do So

Athletic Design would Appeal to Sport and Trend-conscious Consumers

Would be Less Expensive to make, Less Expensive to Sell, so More Sales

Would Draw Attention Through Sponsorship with Beckett, Causing more Sales to

Outweigh Cost of Having Beckett Sponsor

Good Luck with Your Business!

We Sincerely Hope This Helped!