Q8
To explore demand, supply, and pricing decisions, let’s imagine you are the owner and operator of a lemonade stand.
• What factors affect demand for your product?
• What factors affect supply of your product?
• What pricing strategies did you use to maximize your profits?
• How would you define a successful day for your lemonade stand, and what made it successful?
• Describe what an unsuccessful day might look like.
Q9.
Discuss the role of ethics in managing both sustainability efforts and crisis situations.