Comments on: IB Y1 students: Are you cutting back on restaurant meals? http://welkerswikinomics.com/blog/2007/09/25/ib-y1-students-are-you-cutting-back-on-restaurant-meals/ for students and teachers of AP and IB Economics Sat, 11 Oct 2008 13:39:28 +0000 http://wordpress.org/?v=2.5.1 By: SamueLam http://welkerswikinomics.com/blog/2007/09/25/ib-y1-students-are-you-cutting-back-on-restaurant-meals/#comment-2938 SamueLam Sun, 07 Oct 2007 09:53:31 +0000 http://welkerswikinomics.com/blog/2007/09/25/ib-y1-students-are-you-cutting-back-on-restaurant-meals/#comment-2938 1,000 people really speak for the whole U.S, but it does reflect the mind set that people have. This would be a shift in the quantity demand for sit down restaurants, the article says that it is not price but i believe it is. With higher energy costs (and others), people have to spend more paying for those things and leaving them with less money to spend. And so, the sit down restaurant prices looks more expensive than the other cheaper fast food restaurants. 1,000 people really speak for the whole U.S, but it does reflect the mind set that people have. This would be a shift in the quantity demand for sit down restaurants, the article says that it is not price but i believe it is. With higher energy costs (and others), people have to spend more paying for those things and leaving them with less money to spend. And so, the sit down restaurant prices looks more expensive than the other cheaper fast food restaurants.

]]> By: Teemar Ratanasirigulchai http://welkerswikinomics.com/blog/2007/09/25/ib-y1-students-are-you-cutting-back-on-restaurant-meals/#comment-2934 Teemar Ratanasirigulchai Sat, 06 Oct 2007 02:29:16 +0000 http://welkerswikinomics.com/blog/2007/09/25/ib-y1-students-are-you-cutting-back-on-restaurant-meals/#comment-2934 Now I'm just confused. I just finished reading the ban on the cupcakes, and now I read that people are eating out less, except at fast food restaurants, such as McDonalds, which is up 8.1%. This totally contradicts the cupcake thing. Food quality and menu offerings are the main factors that affect people's decisions, but they go to fast food restaurants with limited choices, and really unheathy choices. They are also worried about declining home values, but sitting at a restaurant and eating with family probably promotes family values. They want convinece, but staying at home would mean cooking.....or ordering in. I'm guessing that people really are concerned about price, thus do not go out to eat where they have to pay more. It is cheaper (synonymous for convenience?) to stay in. Going out also requires gas for transportation, thus, not going reduces price of gas. They believe more in domestic values, don't know why, but it seems to worry them, thus keeping everyone in the domestic area, otherwise known as the house. But why do they order from Fast food, when it seems that the United States is currently at a rage for happy, healthy foods. Makes no sense to me, but maybe I got it all wrong. Now I’m just confused. I just finished reading the ban on the cupcakes, and now I read that people are eating out less, except at fast food restaurants, such as McDonalds, which is up 8.1%. This totally contradicts the cupcake thing. Food quality and menu offerings are the main factors that affect people’s decisions, but they go to fast food restaurants with limited choices, and really unheathy choices. They are also worried about declining home values, but sitting at a restaurant and eating with family probably promotes family values. They want convinece, but staying at home would mean cooking…..or ordering in.

I’m guessing that people really are concerned about price, thus do not go out to eat where they have to pay more. It is cheaper (synonymous for convenience?) to stay in. Going out also requires gas for transportation, thus, not going reduces price of gas. They believe more in domestic values, don’t know why, but it seems to worry them, thus keeping everyone in the domestic area, otherwise known as the house. But why do they order from Fast food, when it seems that the United States is currently at a rage for happy, healthy foods. Makes no sense to me, but maybe I got it all wrong.

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