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What is the Market Place exactly?

What is the Market Place exactly?. Economic Origami and how the market place is like a football field. First the Economic Origami. First fold your paper in thirds like you are folding a letter. Make this in the middle Title this the Marketplace. $. Part two the end zones.

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What is the Market Place exactly?

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  1. What is the Market Place exactly? Economic Origami and how the market place is like a football field

  2. First the Economic Origami First fold your paper in thirds like you are folding a letter.

  3. Make this in the middle Title this the Marketplace $

  4. Part two the end zones Next fold both sides in about 2 1/2 inches to make Flaps on the sides

  5. Just unfold and You now have 3 football fields to play with We will look at three ways to compare the marketplace to a football game: 1. The field itself and its players 2. The action on the field 3. How to get on the field in the first place

  6. Field # 1 and the Players Team 1 The Buyers (end zone) Team 2 The Sellers ( end zone)

  7. Pick a good or service for the field and draw a sliding scale at the 50 yard line

  8. In field # 2 What does each team want to accomplish on the field?

  9. The Field of Play is the Good or Services being offered for sale This creates an opportunity for the two teams to fight it out in the market place to determine the price of the good or service: The buyers want rock bottom prices The sellers want Massive profits Who will prevail?

  10. Market Forces determine the outcome in this football game The Real Income Effect The Substitution Effect Law of Diminishing Marginal Utility

  11. Can both sides get what they want?Quid Pro Quo (field # 3) Buyers: Goal Sellers: Goal Massive Profits Cheap Goods and Services

  12. Field # 3How do you actually get on the Field and into the action? Buyers Sellers

  13. The Market Place settles these encounters with Market Forces The results of these forces meeting in the market place create the prices we find in our stores QPQ

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