Micro Economics Project: Community Garden at MIIS

Gardening in Monterey How much will you pay?

What is a "community garden"? According to the American Community Garden Association, a community garden is defined as : "Any piece of land gardened by a group of people."

What is a "community garden"? Known as Allotment gardening worldwide, community gardens range from hefty farmland parcels to space on metropolitan rooftops.

The Benefits
"Improves the quality of life for people in the garden
Provides a catalyst for neighborhood and community development"
Beautifies Neighborhoods
Recreation & Education
Healthy Food Production
and many more!

How much would you be willing to pay for a community garden?
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:
10' X 10' plot of land
Compost
Water
Tools

Demand Schedule Price Not Interested $0 $5 $15 $25 $40 Quantity Demanded 4 27 25 18 9 3

Elasticity
% Change in quantity demanded = 7.33%

% Change in price = 7%
Elasticity = 7.33/7 = 1.05

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!)

In Conclusion...

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.

Credits Catherine Carlton Leah Severino Elma Paulauskaite Natalie Sherman Steven Anderle Abhilasha Sharma

Micro Economics Project: Community Garden at MIIS

by Natalie on Aug 11, 2010

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Micro Economics Project: Community Garden at MIIS — Webinar Transcript