Price Journals due Thursday in class!
Price Journal Directions
Students,
You are required to keep a price journal that will be due at the end of week 16 in class. Purchase an inexpensive journal to keep track of weekly prices of 10 different goods or services in the city where you live. At the end of the semester, you should have tracked prices for 10 different goods or services for a total of 14 weeks. You are not expected to track prices during the week of Thanksgiving. You will discuss your findings at the end of each week noting any drastic changes in prices, and possible reasons why prices changed including the five supply and demand factors. In addition, you are expected to calculate the average pricefor each of the 10 different goods or services you tracked. This will need to be calculated at the end of the semester when you have 14 weeks worth of data for each of the 10 different goods or services. For interesting results, I suggest tracking the price of a good at two different stores. For example, you could track the price of Gala Apples at Pubix and Walmart. In addition, I suggest tracking the prices of substitute goods such as Chicken and Beef per pound, or Olive Oil vs. Canola Oil.
For example:
Week 1 Note: Include date and address of each store location.
Wednesday, August 23rd, 2017
1.) Northridge Publix off Clark Rd in Sarasota-Tropicana Orange juice-$2.99 for a half gallon.
2.) Tires Plus off University Ave in Sarasota- Oil Change-$29.99.
3.) RaceTrac Gas Station located on the corner of U.S. 41 and 57 St. in Bradenton-$2.29 per gallon of regular unleaded gasoline.
Week 2 Note: Include date and address of each store location.
Wednesday, August 30th, 2017
1. ) Northridge Publix off Clark Rd in Sarasota-Tropicana Orange juice-$2.99 for a half gallon, but Publix is offering a BOGO deal.
2.) Tires Plus off University Ave in Sarasota- Oil Change- price decreased to $19.99.
3.) RaceTrac Gas Station located on the corner of U.S. 41 and 57 St. in Bradenton-$2.26 per gallon of regular unleaded gasoline.