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SLP Carnival Corporation. Supply and demand.

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Carnival Corporation

1. What is the organization you are going to use? Why do you think it will be an interesting focus for your economic analysis?
2. Use the PowerPoint presentation in the background materials to learn more about the firm of your choice.
a. Pick TWO of the economic terms presented in the PowerPoint Slides that apply to your organization. What are they? Explain how each applies to your organization.
b. Pick one of the "Big Economic Ideas" presented in the PowerPoint Slides. Discuss how they apply to your organization. What do they add to your understanding of how your organization operates? Do you have any new insights?
3. Supply and Demand are important tools to study how markets function. Read more about Supply and Demand from the Background Material and address the following:
a. What good or service does your firm produce? What are some factors that would cause a change in demand for this good/service? How does quantity demanded of this good/service change?
b. Give some examples of changes in supply in the context of your good.

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Your tutorial is 760 words and a reference and should give you some great ideas for drafting your paper about Carnival Cruise lines and how supply and demand impact their product, their customers, and how they are vulnerable to oil supply.

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1. What is the organization you are going to use? Why do you think it will be an interesting focus for your economic analysis?

I am going to use Carnival Corporation. It is a global cruise company and one of the largest vacation companies in the world. It is dependent on oil as a key ingredient as well as being a discretionary purchase with many alternatives. It is also a fun product that I am curious about. So, I want to think about how price and demand have influenced this firm.

2. Use the PowerPoint presentation in the background materials to learn more about the firm of your choice.

a. Pick TWO of the economic terms presented in the PowerPoint Slides that apply to your organization. What are they? Explain how each applies to your organization.

Substitutes:

Substitutes are goods that can replace the product. For Carnival, other vacation options can substitute for their cruises. This can be other destinations, competing cruise lines, or alternative ways to use vacation time (take a course in scuba diving).

Complements:

These are products that can be used together. Cruises partner with local attractions to offer "excursions"? at the ports where they dock along the cruise route. These short ...

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Carol Sargent, PhD
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  • MSc, University of Virginia
  • PhD, Georgia State University
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