Demand and Supply in action - fish and chips
Wednesday, September 21, 2011
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1,200 people queued to get their hands on a fish and chip takeaway meal for just £1. Fosters Fish and Chips shop in Didsbury, Manchester, was offering the special promotion to celebrate its first birthday.
And the £4.75 savings on the usual price appeared to be reason enough for 1,200 customers to wait hours in line.
The staff opened the shop early in preparation for the expected rush and made sure they stocked extra fish and chips to meet demand. However they had to stop serving at 10pm when their stocks ran out.
A great example to use when discussing movements along the demand curve. Also a good one for competition.
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