How Smart Consumers Make Smart Choices Student Organizer

Demo Production Segment:

1. As you watch the segment on creating a demo music tape, write down the following information:

      a. Methods for producing a demo tape.




      b. Different costs of producing a 4-track tape.




      c. Different costs of producing an 8-track tape.




      d. Factors that impact the cost of each type of production.




      e. Likelihood that each tape will yield a recording deal.




2. To create a framework for economic analysis in the tape demo process, answer the following questions:

      a. Given the market forces of supply and demand, where do students see the most supply of recording studios?




      b. What are the opportunity costs of doing a demo tape?




      c. What are the financial and time costs to doing a demo tape? Are there other costs? What are the realistic benefits? Do the benefits outweigh the costs, or vice versa?




      d. What types of self-regulation can be employed in this scenario to ensure that the best decision is made?





MP3 Player Segment:

1. As you research MP3 players on the Web, write down the following information:

      a. The cost of the most popular (as determined by the class) MP3 player.




      b. The cost of the cheapest (as determined by the class) MP3 player.




      c. As many other brands and prices as they can find in the designated research time period.








2. To create a framework for economic analysis in the MP3 player process, answer the following questions:

      a. Given the market forces of supply and demand, where do you see the most demand and supply for MP3 players?




      b. What are the opportunity costs of buying an MP3 player? What else could that money be used for?





      c. What are the benefits to owning an MP3 player? Do the benefits outweigh the costs, or vice versa?





      d. What types of self-regulation can be employed in this scenario to ensure that the best decision is made?




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