Determinants of demand are change of
tastes, income and possibly the amount of buyers. Determinants of supply are
the price of factors of production, the prices of related goods produced and
technology. Also personal preference might affect the demand of people as well.
People might like Zeppelin for a while but then dislike it later. The technology
is important as well. This is because before there is accident happening in
1930s which people’s demand fell. Then, when the technologies improve and the
Zeppelin’s quality become better and people’s demand for riding on it start to
increase again. Also the increase in technology can decrease the price of production
and increase the quantity supply as well. This market is an oligopoly and it is
very close to a monopoly because there are only three of them in the world that
makes it an oligopoly. It’s almost a monopoly because there is only one in
North America which means that people from United State only can go to Zeppelin
if they want it. Three determinants of demand for the success of Airship
Ventures are preference, expected future prices, and the prices of related
goods. This is because people who will go to Zeppelin is mainly base on if they
want it or not and the price of it. No one will want to pay a very high price to
just get on the hot balloon
