Well, first and foremost, I will let everybody know that I am a cook at Pizza Hut (actually I am at work right now), and have been for more than a year and a half. I have seen everything there is to see with pizza. Right now, we are running a special on the delicious, but ridiculously hard to make Cheesybite Pizza (seriously, you have to do so much work to make this crust). Anyhow, this is a pizza substitute for the Stuffed Crust pizza, and I got to thinking about supply and demand yesterday at work. Since we are running the special on the limited time only Cheesybite Pizza, there is quite a large demand for this pizza. But, since it is a substitute for the stuffed crust, the quantity supplied for the stuffed crust has decreased, and the quantity supplied for the Cheesybite Pizza increased (technically, it didn't increase since we didn't have it a week ago, and it is a limited time only kind of deal, but since it came from nowhere, i.e 0, I would think that it is technically increasing). However, many people like to eat their Cheesybite pizza with dipping sauce like garlic, ranch, marinara, or blue cheese, there is now a higher quantity demanded for these sauces due to the complementary item (Cheesybite pizza). I guess I'm an econ nerd, just like beth ;), but while I was at work yesterday, making the ridiculously redundant Cheesybite pizzas, I just kept thinking, AP ECON!! AP ECON!!! SUPPLY and DEMAND! But, since I'm on my little blog here, is this right, it would be an increse in quantity supply and quantity demanded right?
Thank Goodness for Pizza Hut!!
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6 comments:
wow you are becoming more and more of a nerd ;) haha
that was a lot of talk about pizza but yea. both the quantity supplied and demanded of cheesy bite is an increase. but the quantity demand and supplied of stuffed crust like you said is a decrease since it is a substitute and everybody is wanting to try this cheesy bite pizza business while its around.. if there is a big enough increase in demand of cheesy bite do you think they will keep the cheesy bite pizza around permanantly? because what if people like it better than the stuffed crust then when the cheesy bite is gone, people dont want the stuffed crust because they like the cheesy bite better and its just not the same? follow??
this is makin me want some pizza or somethin... thanks :P
Awesome analysis, Keri! Love it - econ nerds of the world unite!
(hmmm...we should get a shirt...I was tempted to get them for Women's Studies last semester - "Mrs. McDaniel turned me into a man-hating, pie-making lesbian"...interesting...)
I haven't tried the cheesy bites pizza. But I will mention that the special ad changes quantity demanded, not demand. :) (price)
Unless it's because of the cool popping commercials, in which case it is demand.
Um. Sorry. I guess I get to be the original econ nerd. :)
i tried posting this last night but it didnt work but it reminded me of something from my work..... granted youre talking about pizza and im talking about tanning lotion. but we got this lotion in a few weeks ago and we were selling it for im pretty sure $17.99 a bottle. everybody likes it though so weve been selling quite a bit of it. well i went to work on saturday and i noticed the price went up to $19.99. when things like that happen it kind of separates people into two groups, based on who wants the product the most. whoever wants it the most will be more willing to pay that extra two bucks, and those who arent willing, well theyre just out of luck!.. but yea its all pretty interesting to think about, the way things work!! i think the nerdiness is rubbing off.. :S
OMG Keri, you really are an econ nerd. It reminds me of how much Mr. Johnson thinks about how calculus relates to our everyday lives. It's a nice connection. Anyways, I would have to agree with you that the demand of stuffed crust would decrease because cheesy bite pizza is a substitute. How do the two prices relate though? Are they relatively the same price? The demand of the sauces also increases because they are compliments to the cheesy bite pizza. This is good advertising for Pizza Hut because I want to try this new pizza. (Sorry Keri, I hate to have you go through all that trouble making it!) How long is this limmited time going to last for?
I think Beth still takes the cake on the whole econ nerd thing haha, but it is crazy how econ is everywhere. Even at Pizza hut, haha but if the Price of the cheesey bite pizza changes wouldn't that change quantity demanded cause it is price? i actually have no idea if that is actually right, but it sounded particualrly econy.
You ladies win all the awards with this one - you're all RIGHT! :)
Yes, QD with a change in price.
Ellen - exactly the same idea with raising the price - sellers/producers want to sell at a higher price, so if the QD is high, they'll raise the price to see how high they can go. Exactly!
And...well, Mr. Johnson might be dreaming that Calculus applies to real life (ha! tell him I said that, too!) -- but this is great application.
Excellent job! :)
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