conomc sae - duneland school corporation€¦ · extended essay 6 conomc sae the differing...
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Extended essay 1
Economics sample A
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Extended essay 2
Economics sample A
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Extended essay 3
Economics sample A
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Extended essay 4
Economics sample A
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Extended essay 5
Economics sample A
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Extended essay 6
Economics sample A
The differing significance of some factors between the two localities is measured by elasticity values. Elasticity values may be determined as a result of the changes in price observed in the market, and changes in income investigated in the surveys. The elasticity values and the significance of other factors are then cross analysed with one another to derive a suitable explanation to the varying significance of the factors in the two localities.
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Extended essay 7
Economics sample A
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Extended essay 8
Economics sample A
Reasearch Question: What are the factors that affect the consumers' demand for cabbage in two different localities in Busan, South Korea: Haeundae and Young-Do, and how do they vary from each locality?
What is the reason for buying "already-made" Kimchi? Busy lifestyle
Haeundae 14 Young-Do 2
Convenience Better Taste 8 0 0 2 Table 1. 2: Survey Question 210
Cheaper Price Total 12 34 4 8
It can be seen that among the younger generation who are assumed as the working population prefers the "already-made" Kimchi due to the limited time in their lifestyle as seen by the high percentage of their answer choices of convenience and busy lifestyle. This is because culturally the making of Kimchi takes up time and thus the busy lifestyle of the younger generation can also be considered as a factor that affects the demand for cabbage, especially in Haeundae. Therefore, busy lifestyle and convenience as a factor of demand for the "already made" Kimchi is more significant in Haeundae than Young-do.
It is also notable that cheaper price of the substitute is also chosen by a number of surveyees in both the localities.$S.onomically, as price of cabbage increases, the demand for the substitute should increase, showing a positive relationship. Price of cabbage as affecting the demand for the substitute has been found out through survey part II where it reflected the number of people who switched to the "already-made" Kimchi with an increase in price of cabbages.
Recently, there was a price increase in cabbages as compared to last year. How many cabbages did you use during this "Kim Jang" season?
1=3 3=6
Haeundae 2 4 Youngdo 0 2
6�10 >10
10 6 6 16
Table 1. 3: Survey Part 1111
Switched to Total Substitute 8 30 6 30
There was a 43.5% increase in the price of cabbage12 in busan with the price at 1980W13 • Therefore, cross elasticity analysis can be used to determine in which locality the substitute effect was stronger.The diagram below shows the shift in the demand for "already made" Kimchi with the increase inprice of cabbage as consumers switch over to the substitute in the two localities.
10 Appendix 4. (pg 23). 11 Appendix 4. (pg 27). 12 Pyung Ho, Kim. "[{!f\�j-�7r]'fl�� §ld°Or �-l:!H? 7r.2:J %2-r." Dailian. November 22, 2013. http://www.dailian.co.kr/news/view/405697. Accessed December 13, 2013. 13 US$1.00 = 1029.60W as of April 13, 2014.
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Extended essay 9
Economics sample A
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Extended essay 10
Economics sample A
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Extended essay 11
Economics sample A
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Extended essay 12
Economics sample A
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Extended essay 13
Economics sample A
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Extended essay 14
Economics sample A
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Extended essay 15
Economics sample A
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Extended essay 16
Economics sample A
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Extended essay 17
Economics sample A
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Extended essay 18
Economics sample A
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Extended essay 19
Economics sample A
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Extended essay 20
Economics sample A
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Extended essay 21
Economics sample A
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Document name 22
Economics sample A
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Extended essay 23
Economics sample A
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Extended essay 24
Economics sample A
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Extended essay 25
Economics sample A
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Extended essay 26
Economics sample A
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Extended essay 27
Economics sample A
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Extended essay 28
Economics sample A
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Extended essay 29
Economics sample A
Clear evidence of the extent of the research.