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iPad is the first tablet computer developed by Apple Inc. announced on January 27, 2010, and officially released into the market on April 3, 2010.
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 * PROJECT A || When did the first iPad originated?

How is the price of iPad determined? Before a price is set for the iPad, various factors have to be considered. Namely, cost of production, product’s price elasticity, and product’s uniqueness. To add on, the producers of iPads also have to analyze the market, to consider how much are consumers willing to pay for the iPad, etc. Prices of goods, in this case- iPads, are determined automatically be demand and supply forces, by price mechanism (which is also known as the market mechanism or the invisible hand). When quantity demanded is equal to the quantity supplied, market equilibrium occurs at that certain price. Thus, when price equilibrium is achieved, price will not tend to change.

What are some of the related/associated products for iPad? How are these products related to the iPad? The iPad charger and its battery are compliments of the iPad. These compliments come hand in hand with the iPad, withouth these compliments, the iPad would not be able to work.

Links: [] || ﻿ ﻿Diagram? Gd! Check spelling (COMPLEMENTS) || Substitute products are alternatives. Close substitutes such as the Blackberry playbook and the Samsung Galaxy are of narrow range and very responsive to changes in terms of prices and demands. For a given fall in the price of iPad, there will be a given fall of the Blackberry Playbook depending on how closely related they are. In addition, the taste of consumers also plays a part in their decision on which products they should buy. Introduction of iPads will greatly decrease the demand of other tablets PCs. Each consumer will prefer different specifications provided from different products. Consumers would want products at a relatively lower price without forsaking quality. For example, consumers might prefer an iPad to a Samsung Galaxy or Blackberry playbook, and vice versa. With more substitutes it will affect the people’s choice, and different marketing methods will also attract different consumers. The more substitutes there are in the market, the lower the price will be for iPads. This will lead to consumers to consider buying more iPads. Second point of view is the consumer’s income. An increase in income will lead to an increase in the demand for normal goods, like the iPad. This will cause a rightward shift in the demand curve. When consumer’s income increases, they got more purchasing power and the will be more willing and able to buy iPads. Also, as income rises, the demand for outdated types of PC such as 386 and 486MHz speed PCs will fall as more people will turn to better quality iPad that is not only of better quality and speed. Since it is lighter than normal PCs, iPad will also increase in demand as it could be more convenient to bring it around.
 * PROJECT B || Consumer’s Viewpoint

Producer’s Viewpoint From the producers aspect, the new developments in technology would allow the producers to produce more iPads and more efficiently. This means that there will be more output produced even with the same amount of inputs. If prices of factors of production remain the same, the ability to produce 1 iPad at a lower cost per unit as compared to before, hence they are able to produce more iPads. Therefore the producer need not increase their prices of iPads to increase their profits. In addition, producers might expect the price of the iPad to rise in the future period, thus they may decide to reduce supply in the current period and release them on to market only when the price rises to earn higher profits. Thus, there will be a decrease in price for iPad for the current period but a sharp increase in price in the future when producers can have a higher profit selling one unit of iPad. Also, the number of sellers of iPads could increase. Since there could be many sellers selling iPads, the amount of supply available in the market would increase. The price of iPad will increase, thus producers could also maximise their profits.

|| fall in demand? Check: Is this consistent with Dd/Ss analysis?

Some attempt at Dd/Ss analysis (with errors) & addressing pricing decisions that can be undertaken. Further accurate analysis on marketg & pricing actions is needed. ||
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