Econs Presentation (Taylor's PRE-U course)

Today is my first presentation regarding Price elasticity of demand on Taylor's Pre-U course (A-level). Throughout the project I learnt a lot about XeD "cross elasticity of demand" (which is what i'm presenting about). I knew more about it and it feels so good.. Well XeD is about the responsiveness of quantity demanded to the change in price of a related good. For Taylor, we did a survey regarding substitute goods and the question was " If Inti reduces it's price by 10% will you still choose Taylor's as your first choice? " Well the value was elastic. It mean if Inti really reduces it's price, the quantity demanded on Taylor's will be low. THIS IS VERY BAD. Well.. to reduce the value of XeD, improving the quality of the environment and students is important. Taylor's will gain its reputation and more people are willing to pay for it. For complementary goods, i'm afraid we can't find any for Taylor's because it's considered a superior good. Nothing can change its quantity demanded. Therefore, the value of XeD is "0" (NO EFFECT). 

From this presentation, I noticed the market really well. If Taylor were to increase it's price by 10 % the quantity demanded is elastic. Besides that, if their budget were to increase by 10% , many of them are not willing to pay for the price in Taylor's. Although the the survey might not be accurate due to many factors but I got a rough idea that many of them are willing to save their parents or their money. Chinese...

For the factors of demand and supply, i didn't manage to look much at it. HOWEVER, i know what are the factors of demand on Taylor's PRE-U course which is location, luxury or necessity, proportion on income, substitute goods and many more. I haven't learn factors of supply yet but will look into it soon (: hehe  

Something that i really regretted during the project was not putting my full skills into it. I didn't put in much effort and i'm very sorry for it ): I should have done something better with the presentation and work well with my teammates ): it's already too late but i think the presentation went well and we got the crowds attention. They were listening and they responded to our explanations (: My teammates were fantastic and i'm glad i had them with me during the journey. I wish my next presentation for A2 will be great and i'm looking forward to it.

Although this is really a brief reflection about the presentation but i'm glad i noticed my weaknesses and i'll work well towards it. Luckily i did something interesting for my group which is comic strip and yea. Thank god for that idea i had from Nelson. (: I hope this is okay and that's all for now!