BellringBellringerer1.1. How old do you think the video How old do you think the video

game industry is?game industry is?2.2. What type of good is a video What type of good is a video

game? (inferior or normal?)game? (inferior or normal?)3.3. List two substitutes for video List two substitutes for video

games.games.

Video GamesVideo Games New in 1975New in 1975 $10.3 Billion in 2010$10.3 Billion in 2010

Electronic Arts Inc. (Public, NASDAQ:ERTS)

Nintendo Co., Ltd (ADR) (Public, OTC:NTDOY

Take-Two Interactive Software, Inc. (Public, NASDAQ:TTWO

Activision Blizzard, Inc. (Public, NASDAQ:ATVI

10 minutes, 1 paper per 10 minutes, 1 paper per groupgroupa. Which curve would shift? (S or D)a. Which curve would shift? (S or D)

b. Which direction? (left or right)b. Which direction? (left or right)c. What happens to equilibrium price? c. What happens to equilibrium price? (increase or (increase or

decrease)decrease)

1.1. Market: Sonoran hotdogs (Man vs. Food visits Market: Sonoran hotdogs (Man vs. Food visits Tucson)Tucson)

2.2. Market: DVD rentals (2008)Market: DVD rentals (2008)3.3. Market: flat screen tvs (2010), Market: flat screen tvs (2010), What has been happening What has been happening

to Eqp?to Eqp?

4.4. Market: NY Giants merchandise (2012)Market: NY Giants merchandise (2012)5.5. Market: Cellphone service Market: Cellphone service (after iphone, blackberry, (after iphone, blackberry,

droid)droid)

6.6. Market: Apple stock Market: Apple stock (Apple announces record profits)(Apple announces record profits)7.7. Market: Facebook stock Market: Facebook stock (FB becomes publically (FB becomes publically

traded)traded)

Golden GooseGolden Goose ““The Goose that could lay a golden The Goose that could lay a golden

egg”egg”