Describe the difference between independent and dependent demand and give an example of each for a pizza restaurant such as Domino’s or Pizza Hut.

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Answer 1

Textbook Question

Chapter 13, Problem 1Q

Describe the difference between independent and dependent demand and give an example of each for a pizza restaurant such as Domino’s or Pizza Hut.

Expert Solution & Answer

Summary Introduction

To draw: To distinguish between independent and dependent demand with pizza restaurant examples

Introduction

Demand is an economic concept that describes the consumer’s wants and needs to buy goods and services with the willingness to pay. The quantity demanded and the price is related to each other. There are many factors like taste & preference, income level, the expectation of the customer, and prices of related products that have an impact on demand.

Explanation of Solution

Independent demand is a form of demand for a finished good like a pizza, bicycle, and TV.

Dependent demand is a type of demand in which components or some parts for making a finished product are demanded like cheese for making pizza and tyres for fixing in cars.

The difference between independent and dependent demand is:

1. Independent demand does not focus on or have no concern for the demand for other items.

Dependent demand arrives from the independent demand.

2. Independent demand is very essential, but can’t be computed.

Dependent demand is computed from the demand for the finished product.

Example: Domino’s pizza is a finished product and can be directly consumed by the consumer and comes under independent demand.

Cheese and Sauces are materials for making pizza and it comes under the dependent demand.

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Describe the difference between independent and dependent demand and give an example of each for a pizzarestaurant such as Domino’s or Pizza Hut

Describe the concept of independent vs dependent demand. Give an example of each.

1) Assume that you are a manager of one of the hotels in the UAE. As you know, UAE has an excellent weather from October to April, so the room occupancy rate is high during this period. However, the occupancy rate becomes low during the period from May to September due to the hot weather and this happens every year. Based on the above information: 1- What is type of demand state that you face in this situation? Explain it? 2- And explain how can you manage this demand state in detail? 2) In this course, you were requested to provide relevant recommendations to intensive growth strategies for a selected hotel of your choice in the UAE, write a report to explain each one of them and show their relevant recommendations as follows: 1- Market penetration strategy (explain and write recommendations) 2- Market development strategy (explain and write recommendations) 3- Product development strategy (explain and write recommendations) 4- Related diversification strategy (explain and write…

Answer 2

Textbook Question

Chapter 13, Problem 1Q

Describe the difference between independent and dependent demand and give an example of each for a pizza restaurant such as Domino’s or Pizza Hut.

Expert Solution & Answer

Summary Introduction

To draw: To distinguish between independent and dependent demand with pizza restaurant examples

Introduction

Demand is an economic concept that describes the consumer’s wants and needs to buy goods and services with the willingness to pay. The quantity demanded and the price is related to each other. There are many factors like taste & preference, income level, the expectation of the customer, and prices of related products that have an impact on demand.

Explanation of Solution

Independent demand is a form of demand for a finished good like a pizza, bicycle, and TV.

Dependent demand is a type of demand in which components or some parts for making a finished product are demanded like cheese for making pizza and tyres for fixing in cars.

The difference between independent and dependent demand is:

1. Independent demand does not focus on or have no concern for the demand for other items.

Dependent demand arrives from the independent demand.

2. Independent demand is very essential, but can’t be computed.

Dependent demand is computed from the demand for the finished product.

Example: Domino’s pizza is a finished product and can be directly consumed by the consumer and comes under independent demand.

Cheese and Sauces are materials for making pizza and it comes under the dependent demand.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Textbook Question

Chapter 13, Problem 1Q

Describe the difference between independent and dependent demand and give an example of each for a pizza restaurant such as Domino’s or Pizza Hut.

Expert Solution & Answer

Summary Introduction

To draw: To distinguish between independent and dependent demand with pizza restaurant examples

Introduction

Demand is an economic concept that describes the consumer’s wants and needs to buy goods and services with the willingness to pay. The quantity demanded and the price is related to each other. There are many factors like taste & preference, income level, the expectation of the customer, and prices of related products that have an impact on demand.

Explanation of Solution

Independent demand is a form of demand for a finished good like a pizza, bicycle, and TV.

Dependent demand is a type of demand in which components or some parts for making a finished product are demanded like cheese for making pizza and tyres for fixing in cars.

The difference between independent and dependent demand is:

1. Independent demand does not focus on or have no concern for the demand for other items.

Dependent demand arrives from the independent demand.

2. Independent demand is very essential, but can’t be computed.

Dependent demand is computed from the demand for the finished product.

Example: Domino’s pizza is a finished product and can be directly consumed by the consumer and comes under independent demand.

Cheese and Sauces are materials for making pizza and it comes under the dependent demand.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Textbook Question

Chapter 13, Problem 1Q

Describe the difference between independent and dependent demand and give an example of each for a pizza restaurant such as Domino’s or Pizza Hut.

Expert Solution & Answer

Summary Introduction

To draw: To distinguish between independent and dependent demand with pizza restaurant examples

Introduction

Demand is an economic concept that describes the consumer’s wants and needs to buy goods and services with the willingness to pay. The quantity demanded and the price is related to each other. There are many factors like taste & preference, income level, the expectation of the customer, and prices of related products that have an impact on demand.

Explanation of Solution

Independent demand is a form of demand for a finished good like a pizza, bicycle, and TV.

Dependent demand is a type of demand in which components or some parts for making a finished product are demanded like cheese for making pizza and tyres for fixing in cars.

The difference between independent and dependent demand is:

1. Independent demand does not focus on or have no concern for the demand for other items.

Dependent demand arrives from the independent demand.

2. Independent demand is very essential, but can’t be computed.

Dependent demand is computed from the demand for the finished product.

Example: Domino’s pizza is a finished product and can be directly consumed by the consumer and comes under independent demand.

Cheese and Sauces are materials for making pizza and it comes under the dependent demand.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

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Answer 6

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Answer 7

Expert Solution & Answer

Summary Introduction

To draw: To distinguish between independent and dependent demand with pizza restaurant examples

Introduction

Demand is an economic concept that describes the consumer’s wants and needs to buy goods and services with the willingness to pay. The quantity demanded and the price is related to each other. There are many factors like taste & preference, income level, the expectation of the customer, and prices of related products that have an impact on demand.

Explanation of Solution

Independent demand is a form of demand for a finished good like a pizza, bicycle, and TV.

Dependent demand is a type of demand in which components or some parts for making a finished product are demanded like cheese for making pizza and tyres for fixing in cars.

The difference between independent and dependent demand is:

1. Independent demand does not focus on or have no concern for the demand for other items.

Dependent demand arrives from the independent demand.

2. Independent demand is very essential, but can’t be computed.

Dependent demand is computed from the demand for the finished product.

Example: Domino’s pizza is a finished product and can be directly consumed by the consumer and comes under independent demand.

Cheese and Sauces are materials for making pizza and it comes under the dependent demand.

Answer 8

Expert Solution & Answer

Summary Introduction

To draw: To distinguish between independent and dependent demand with pizza restaurant examples

Introduction

Demand is an economic concept that describes the consumer’s wants and needs to buy goods and services with the willingness to pay. The quantity demanded and the price is related to each other. There are many factors like taste & preference, income level, the expectation of the customer, and prices of related products that have an impact on demand.

Explanation of Solution

Independent demand is a form of demand for a finished good like a pizza, bicycle, and TV.

Dependent demand is a type of demand in which components or some parts for making a finished product are demanded like cheese for making pizza and tyres for fixing in cars.

The difference between independent and dependent demand is:

1. Independent demand does not focus on or have no concern for the demand for other items.

Dependent demand arrives from the independent demand.

2. Independent demand is very essential, but can’t be computed.

Dependent demand is computed from the demand for the finished product.

Example: Domino’s pizza is a finished product and can be directly consumed by the consumer and comes under independent demand.

Cheese and Sauces are materials for making pizza and it comes under the dependent demand.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Summary Introduction

To draw: To distinguish between independent and dependent demand with pizza restaurant examples

Introduction

Demand is an economic concept that describes the consumer’s wants and needs to buy goods and services with the willingness to pay. The quantity demanded and the price is related to each other. There are many factors like taste & preference, income level, the expectation of the customer, and prices of related products that have an impact on demand.

Answer 12

Explanation of Solution

Independent demand is a form of demand for a finished good like a pizza, bicycle, and TV.

Dependent demand is a type of demand in which components or some parts for making a finished product are demanded like cheese for making pizza and tyres for fixing in cars.

The difference between independent and dependent demand is:

1. Independent demand does not focus on or have no concern for the demand for other items.

Dependent demand arrives from the independent demand.

2. Independent demand is very essential, but can’t be computed.

Dependent demand is computed from the demand for the finished product.

Example: Domino’s pizza is a finished product and can be directly consumed by the consumer and comes under independent demand.

Cheese and Sauces are materials for making pizza and it comes under the dependent demand.

Answer 13

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Describe the difference between independent and dependent demand and give an example of each for a pizza restaurant such as Domino’s or Pizza Hut.

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