ECON1160 Charlie and the Chocolate Factory
Page 2 and 3. The narrator talks about how Charlie wants nothing more than chocolate. He says that Charlie would stop at the window shops and stare and press his nose against the glass. Charlie would see other children taking bars of creamy chocolate out of their pockets and munching them greedily. This is an example of opportunity cost because Charlie gives up his money to help his family out instead of wasting his hard earned money on chocolate like the rest of the children.
Page 7. Grandpa Joe is tells Charlie how great of an inventor of chocolate Willy Wonka is. He goes on and explains how Mr. Wonka’s chocolate is way far sweeter and creamier and more delicious than anything the other chocolate factories can make. This is an example of a monopoly because the company owns nearly all of the market for a given type of product or service. In this case it is Chocolate.
Change in Demand and Change in Supply
Beginning of Chapter 5. When Mr. Wonka publicized the news of the golden ticket, a change in demand occurred. Mr. Wonka said that he is only going to allow 5 children to visit his factory. This affects the change in demand because so many people want to get this golden ticket but there is only five. People demanded more chocolate bars because it would increase their chances of getting the golden ticket. This also affects the change in supply because There's a large supply of chocolate and a short supply of golden tickets, so people want to buy more chocolate to further their chances at getting a golden ticket.
Chapter 15. Mr. Wonka shows the kids and their parents the heart of the factory. This certain room was described as a valley. There were rivers and waterfalls made of chocolate. Mr. Wonka goes on and explains that the waterfall is the most important. “It mixes the chocolate! It churns it! It pounds it and beats it! It...