Purchase Solution

Tickle Me Elmo

Not what you're looking for?

Ask Custom Question

If we believe that the laws of supply and demand always hold, why is it that the "popular" gifts for the holidays always sell out early?

Doesn't the quantity supplied always equal the quantity demanded?

a. Pick an item that is for sale
b. Describe the market
c. Does quantity supplied equal quantity demanded most of the time? If not, what could cause the discrepancy? Is it government interference?
d. Is it that producers were too short-sighted and didn't estimate expected demand accordingly?

Purchase this Solution

Solution Summary

Tickle me Elmo is expressed as a marketing example.

Solution Preview

Tickle me Elmo is a children's toy that became the "must have" toy for the christmas season of 1996. The market for it was one of high demand and not enough supply. The toy was adorable. A large number of parents wanted to show their kids how much they love them with gifts, and that is best shown if they can show up with "the gift" that everyone covets. Why wasn't there enough supply? Well, one of the reasons might be that the producers didn't know that ...

Purchase this Solution


Free BrainMass Quizzes
Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.