Demand and Supply in action: the market for IPads

This week sees the launch of the latest IPad to scenes of overnight queues and fanfares from Apple.

This is perfect opportunity to map out the impacts of demand and supply changes in the market.

For customers who are upgrading their tablet (as this article highlights) they are disposing of their old IPad via sites such as eBay, which saw 16000 listings for an IPad 2 in the last fortnight.

Plenty of opportunity to develop the idea of substitute markets and maybe even some price elasticity if you watch the eBay prices over time. There are plenty of videos available covering the latest offering from Apple but this concept video should get the average GCSE class enthused!