Black Friday Research Paper
Mark Sanchez
Principles of Microeconomics
Black Friday
Black Friday, the day after thanksgiving, is the biggest shopping day of the year by far. It is the beginning of the traditional Christmas shopping season. The term dates back to as far as 1966. Thought to of originated on the east coast by the year 2000 it was a term known throughout the United States. Black Friday is the most profitable day for many companies in the United States. Merchants and the media have used it instead to refer to the beginning of the period in which retailers go from being in the red (i.e., posting a loss on the books) to being in the black (i.e., turning a profit). A big portion of Total Revenue comes from the month of November.
Almost everybody spends money …show more content…
Sadly, last year a Wal Mart employee was trampled to death in Long Island as a mob of out of control shoppers stampeded through the door. The sad thing is people saw it and didn’t help the victim. In fact the paramedics who arrived were also being trampled as they tried to revive the victim with CPR. Shoppers were acting as if Wal mart were giving away products for free or like products were scarce. Although it’s an exciting time of year, shoppers should be joyful and treat others with kindness. For in fact isn’t kindness and generosity the real reason for the season? In conclusion, we know this season is an expensive one so as we are out this holiday spending our money (and making business’ finally leave the red and enter the black) be smart, be kind and be …show more content…
http://www.blackfriday.fm/news/137/Five-Things-You-Might-Not-Know-About-Black-Friday 2. http://www.marketingcharts.com/interactive/black-friday-shoppers-profiled-spending-to-be-down-2365/maritz-holiday-season-stores-at-which-plan-to-shopjpg/ 3. http://www.associatedcontent.com/article/1256761/the_statistics_are_in_for_black_friday.html
Glossary 1. Economic Profit - the making of gain in business activity for the benefit of the owners of the business 2. Export - to ship (commodities) to other countries or places for sale, exchange, etc. 3. Import - to bring in (merchandise, commodities, workers, etc.) from a foreign country for use, sale, processing, export, or services. 4. Recession - period of an economic contraction, sometimes limited in scope or duration. 5. Price Discrimination - the practice of offering identical goods to different buyers at different prices, when the goods cost the same. 6. Scarcity - insufficiency or shortness of supply; dearth. 7. Total Revenue - is the total money received from the sale of its products 8. Law of Demand – there is a negative relationship between price and quantity demanded 9. Money - any circulating medium of exchange, including coins, paper money, and demand
Principles of Microeconomics
Black Friday
Black Friday, the day after thanksgiving, is the biggest shopping day of the year by far. It is the beginning of the traditional Christmas shopping season. The term dates back to as far as 1966. Thought to of originated on the east coast by the year 2000 it was a term known throughout the United States. Black Friday is the most profitable day for many companies in the United States. Merchants and the media have used it instead to refer to the beginning of the period in which retailers go from being in the red (i.e., posting a loss on the books) to being in the black (i.e., turning a profit). A big portion of Total Revenue comes from the month of November.
Almost everybody spends money …show more content…
Sadly, last year a Wal Mart employee was trampled to death in Long Island as a mob of out of control shoppers stampeded through the door. The sad thing is people saw it and didn’t help the victim. In fact the paramedics who arrived were also being trampled as they tried to revive the victim with CPR. Shoppers were acting as if Wal mart were giving away products for free or like products were scarce. Although it’s an exciting time of year, shoppers should be joyful and treat others with kindness. For in fact isn’t kindness and generosity the real reason for the season? In conclusion, we know this season is an expensive one so as we are out this holiday spending our money (and making business’ finally leave the red and enter the black) be smart, be kind and be …show more content…
http://www.blackfriday.fm/news/137/Five-Things-You-Might-Not-Know-About-Black-Friday 2. http://www.marketingcharts.com/interactive/black-friday-shoppers-profiled-spending-to-be-down-2365/maritz-holiday-season-stores-at-which-plan-to-shopjpg/ 3. http://www.associatedcontent.com/article/1256761/the_statistics_are_in_for_black_friday.html
Glossary 1. Economic Profit - the making of gain in business activity for the benefit of the owners of the business 2. Export - to ship (commodities) to other countries or places for sale, exchange, etc. 3. Import - to bring in (merchandise, commodities, workers, etc.) from a foreign country for use, sale, processing, export, or services. 4. Recession - period of an economic contraction, sometimes limited in scope or duration. 5. Price Discrimination - the practice of offering identical goods to different buyers at different prices, when the goods cost the same. 6. Scarcity - insufficiency or shortness of supply; dearth. 7. Total Revenue - is the total money received from the sale of its products 8. Law of Demand – there is a negative relationship between price and quantity demanded 9. Money - any circulating medium of exchange, including coins, paper money, and demand