Formal Assessment Task 1
Activity 1: Demand, supply and price in your community
Write a report about the need for basic foodstuffs in your community and
how demand, supply and price operate to satisfy needs and wants in
your community. Use the reportwriting format below. Refer to the rubric
at the end of the question to see how you will be assessed. Include the
following information in your report:
Identify the need for basic foodstuffs in your community.
Demand: Explain how the demand for these foodstuffs is identified.
Supply: Explain how these foodstuffs are supplied in response to
the demand.
Demand, supply and price: Explain how the demand and supply
influence the price of
these goods and how the price influences the demand and supply.
Price and other factors: Identify other factors that influence the
price of basic foodstuffs.
[15 marks]
, Discussion
Assess your results. (E.g.: What other factors have you found that
influence price? How do demand, supply and price influence each
other?)
Conclusion
Summarise your results. Explain the importance of your results. Make
recommendations about how solutions can be found to the problem you
investigated.
Activity 1: Demand, supply and price in your community
Write a report about the need for basic foodstuffs in your community and
how demand, supply and price operate to satisfy needs and wants in
your community. Use the reportwriting format below. Refer to the rubric
at the end of the question to see how you will be assessed. Include the
following information in your report:
Identify the need for basic foodstuffs in your community.
Demand: Explain how the demand for these foodstuffs is identified.
Supply: Explain how these foodstuffs are supplied in response to
the demand.
Demand, supply and price: Explain how the demand and supply
influence the price of
these goods and how the price influences the demand and supply.
Price and other factors: Identify other factors that influence the
price of basic foodstuffs.
[15 marks]
, Discussion
Assess your results. (E.g.: What other factors have you found that
influence price? How do demand, supply and price influence each
other?)
Conclusion
Summarise your results. Explain the importance of your results. Make
recommendations about how solutions can be found to the problem you
investigated.
