Massachusetts Institute of Technology Food Truck Economics Worksheet

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Running head: FOOD TRUCK ECONOMICS
Food Truck Economics Questions and Answers
Stella E. Spero
Grand Rapids Community College
FOOD TRUCK ECONOMICS
Food Truck Economics Questions and Answers
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Question 1.
How do food trucks affect local production possibilities curves for the restaurant meal industry?
Explain your answer and provide a correctly drawn and labeled production possibilities diagram
to illustrate your explanation.
Question 2.
How has the proliferation of food trucks affected the supply of prepared meals and prices in local
markets? Explain your answer and provide a correctly drawn and labeled demand and supply
diagram to illustrate your explanation.
Question 3.
FOOD TRUCK ECONOMICS
How did the U.S. recession of 2007-2009 affect the supply and equilibrium price of available
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food trucks? Explain your answer and provide a correctly drawn and labeled demand and supply
diagram to illustrate your explanation.
Question 4.
How has the demand for food trucks changed in the past few years and how has that change
affected the equilibrium price for food trucks? Explain your answer and provide a correctly
drawn and labeled demand and supply diagram to illustrate your explanation.
Question 5.
How has the boom in the demand for food truck meals affected the demand for and equilibrium
price of commissary space and services? Explain your answer and provide a correctly drawn and
labeled demand and supply diagram to illustrate your explanation. Are food truck meals and
commissary space and service complements or substitutes? Explain your answer.
FOOD TRUCK ECONOMICS
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Question 6.
Why does the demand for food truck meals tend to be seasonal? How does this explain why
many food truck operators also supply catering services?
Question 7.
Why does the demand for food truck meals tend to be higher in urban areas than in rural and
suburban areas? Explain your answer and provide a correctly drawn and labeled demand and
supply diagram to illustrate your explanation.
Question 8.
Why are social media an important aspect of the food truck meal industry?
FOOD TRUCK ECONOMICS
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Question 9.
Why does the food truck meal industry attract a significant number of immigrant entrepreneurs?

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