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The Food Service Industry

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by

Justin Chapman

on 8 January 2015

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Transcript of The Food Service Industry

The Food Service Industry
Changes in Supply and Demand
Government Regulation*
Regulate Competition in economy

Lack regualtion in food industry

Policies include incentives for healthy foods, and taxes for others

- supply
- quantity demanded
Natural Disaster*
Storms, frosts, and heat waves

Stax- tomatoes

Prices Spike

-supply
-quantity demanded
Consumer Preference
Healthy food trend

Opportunities for new businesses to open restaurants

+ demand
+ quantity supplied
Technology of Production*
-McDonalds, assembly line production

-Much faster than individual production

+ supply
+ quantity demanded
Substitute Goods*
Consumer Expectations
The Great Recession

lower wages = less money

stay home

Stax- lunchtime restaurant

- demand
- quantity supplied
Satisfaction at a restaurant

Stax- word of mouth

People looking for a good meal

+Demand
+Quantity Demanded
Full transcript