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Best Invention Ever !!

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by

Tiffany Harris

on 2 October 2014

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Transcript of Best Invention Ever !!

Robotic Cleaner
Automatic machine that cleans a consumers floors without their input of labor.
Robotic Cleaner
Population
Tastes and Prefrences
Income
Substitute
Complementary
Expectations
Number of Sellers
Expectations
Technological
Price of Inputs
U.S population declines
Demand left (decrease)
PRice decrease
Quantity decrease
Dave Chappelle appears in a Robot Cleaner commercial
Demand right (Increase)
Price Increase
Quantity Increase
Average American income increases
Demand right (Increase)
Price Increase
Quantity Increase
Dyson vacuum prices drop
Demand left (decrease)
Price decrease
Quantity decrease
Price of filters increase
Demand left (decrease)
PRice decrease
Quantity decrease
Price of Robot cleaners expected to rise in November
Supply
Demand
Cost of metal rises
supply left (Decrease)
Price Increase
Quantity decrease
New machines produce Robot Cleaners faster
Supply right (Increase)
Price decrease
Quantity increase
Robotic cleaner company goes bankrupt
Demand right (Increase)
Price Increase
Quantity Increase
supply left (Decrease)
Price Increase
Quantity decrease
Buyers love the new robotic cleaning models
Supply right (Increase)
Price decrease
Quantity increase
Corporation
Easy to raise money
Limited liability
High specialization
Competition
Oligopoly
Advantages
It is few producers so they have some control over price
Compete by using advertising
Not easy to start
Competitors
Land
Metals is a natural resource
Found in the ground as ore
metal is used to make the body of a robotic cleaner
Rubber is a natural resource that comes from trees
rubber trees are usually found in Brazil
rubber is used to make the wheels of a robotic cleaner
Labor
Capitol
Entrepreneurship
Workers at factory to produce robotic cleaner
Workers that sell the robotic cleaner
Irobot was founded in 1990 by MIT
Headquaters in Bedfort, Massachusetts
Drill - To screw in nails
srews - to hold robotic cleaner together
bulldozer
Full transcript