Wednesday, March 6, 2019

Graphic organizer for what price shoes are sold at

Image result for many shoes
Picture from CBSSports
  • The economic principle: Links to an external site.Peoplegain when they trade voluntarily.
  • The overall question I will research to help explore the economic principle is (the question should contain 1-2 keywords from the economic principle): How do companies decide what price to sell their shoes at & why do consumers buy such expensive shoes?
  • 3-4 subquestions that will help me answer my overall research question are: 
    •  Do most people buy the cheaper shoes or spend a few extra bucks to get the best shoes?
    •  Would most people rather have a few good pairs of shoes or one great pair?
    •  Do companies that have a higher supply but lower price make more profit or companies that have fewer supply and have a higher price?
    • How much profit are companies making and how much exactly do they spend to make the shoes?
  • Links to 3-4 reliable resources that can help answer the research question:

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