Agya Koo is really excited about going to AUCC, which starts in twoweeks, But his parents just dropped a bombshell; he is going to have to buy all of his ownclothes for the first semester.
Oh no, he's never paid for his clothes! And he really wants more ofhis favourite blue jeans well ,at least he knows his own TASTES ! and Koo wants lots ofpairs so he won't have to do laundry often! Then looks at his tattered and outdate sneakers andwonders how long they will
last. What good are geart blue jeans if the the sneakers are tooweird? Sigh. Time to do research and figure out how to manage this.
" OK " Agya thinks, " I can figure this out I'll just go to ObaaYaa and find what I need to know . I wonder what the PRICES of "first selection" of blue jeansare these days?
Obaa Yaa gives Agya Koo all the "APO". This is useful informationwhich tells Agya that he needs to do some price comparing from the various "Ben DownBoutiques (BDBs) in Accra".
Agya is ready to think about how many pairs he can buy.
Wait a minute, what happens if any of the ladies going to AUCC spotme at the BDBs? . I will buy any jeans from the Accra mall.
Oops I am not quite ready to decide how many pairs I can buy."Let's see," Two more weeks of work before school starts and the part time job has been payingan INCOME of about GHc200 per week . No way can I buy the 8pair that would last fromone semester to the next visit without washing, the COST will be too high relative to theexpected BENEFIT . And the there is the issue of new sneakers (RELATED GOODS).Time to berealistic! For sure my rich older sister YAA BABY won't help ! Maybe I could talk to my boss,and work a few more hours to increase my EXPECTED INCOME. Hey, I'll bet they'll have aback to school sale next week at the Accra Mall and EXPECTED PRICES will be lower.Maybe I should wait to buy some of the blue jeans then."
Agya Koo works extra five hours this week and the blues jeansprices do come down by several cedis. He manages to buy 4 new pairs of blue jeans , newsneakers , and the shoes store throw s in a new t-shirt to promote their sale . Agya Koo had agloriously successful first
semester in this blue jeans and his economics class at the AUCCwith full SATISFACTION.
Agya Koo considered some major elements that determine how much ofa product a buyer purchases.
1. Review Agya Koo's decision process. What are the key elements ordeterminants of amount purchased?
2. Consider each of these key words or determinants individually(one at a time): if that determinant increases, how does thataffect the amount of the good that is purchased?