Gardening in Monterey How much will you pay?
What is a "community garden"? According to the American Community Garden Association, a community garden is defi...
What is a "community garden"? Known as  Allotment gardening  worldwide, community gardens range from hefty farml...
The Benefits <ul><ul><li>&quot;Improves the quality of life for people in the garden </li></ul></ul><ul><ul><li>Provides a...
 
How much would you be willing to pay for a community garden? <ul><li>We asked 31 MIIS students how much they would be will...
Demand Schedule Price Not Interested $0 $5 $15 $25 $40 Quantity Demanded 4 27 25 18 9 3
 
Elasticity <ul><ul><li>% Change in quantity demanded = 7.33% </li></ul></ul><ul><li>  </li></ul><ul><ul><li>% Change in pr...
 
In Conclusion...     <ul><li>  </li></ul><ul><li>Based on our research, the demand for a community garden at the Monterey ...
Credits   Catherine Carlton    Leah Severino   Elma Paulauskaite Natalie Sherman   Steven Anderle   Abhilasha Sharma
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Micro Economics Project: Community Garden at MIIS

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Micro Economics Project: Community Garden at MIIS

  1. 2. Gardening in Monterey How much will you pay?
  2. 3. What is a &quot;community garden&quot;? According to the American Community Garden Association, a community garden is defined as :    &quot;Any piece of land gardened by a group of people.&quot;
  3. 4. What is a &quot;community garden&quot;? Known as Allotment gardening worldwide, community gardens range from hefty farmland parcels to space on metropolitan rooftops.
  4. 5. The Benefits <ul><ul><li>&quot;Improves the quality of life for people in the garden </li></ul></ul><ul><ul><li>Provides a catalyst for neighborhood and community development&quot; </li></ul></ul><ul><ul><li>Beautifies Neighborhoods </li></ul></ul><ul><ul><li>Recreation & Education </li></ul></ul><ul><ul><li>Healthy Food Production </li></ul></ul><ul><ul><li>and many more! </li></ul></ul>
  5. 7. How much would you be willing to pay for a community garden? <ul><li>We asked 31 MIIS students how much they would be willing to pay per month to have a share in a community garden that would include: </li></ul><ul><ul><li>10' X 10' plot of land </li></ul></ul><ul><ul><li>Compost </li></ul></ul><ul><ul><li>Water </li></ul></ul><ul><ul><li>Tools </li></ul></ul>
  6. 8. Demand Schedule Price Not Interested $0 $5 $15 $25 $40 Quantity Demanded 4 27 25 18 9 3
  7. 10. Elasticity <ul><ul><li>% Change in quantity demanded = 7.33% </li></ul></ul><ul><li>  </li></ul><ul><ul><li>% Change in price = 7% </li></ul></ul><ul><li>Elasticity = 7.33/7 = 1.05 </li></ul><ul><li>  </li></ul><ul><li>The demand for community gardens is elastic - the number of gardens demanded changes as a result of change in price of the plots (but not very elastic!) </li></ul>
  8. 12. In Conclusion...     <ul><li>  </li></ul><ul><li>Based on our research, the demand for a community garden at the Monterey Institute is relatively significant (87% of interviewees agreed that they would pay to plant their own produce).  The price elasticity of demand is elastic, though only slightly.  </li></ul>
  9. 13. Credits   Catherine Carlton    Leah Severino   Elma Paulauskaite Natalie Sherman   Steven Anderle   Abhilasha Sharma

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