Answer to Question #327743 in Macroeconomics for Joel

Question

Think of a good or service you might like to provide to your community. Then, describe how you would supply the good or service. How would you go about estimating demand for your good or service? Evaluate whether there would be enough demand for there to be a “market” for your good or service.

Answer 1

100% of people in my community demand haircut services. There are several salons in the community. However, the queue for getting services there is quite long. Therefore, there is quite a good business opportunity and a market in this sector.

I would pass a relevant training, buy an instrument, rent a salon and organize a wide marketing campaign.