How can the study of economics help this company

Reference no: EM133339792

Case: Consider a business that is currently operating (e.g., your current employer, Amazon do not use Amazon , GM, Apple, Wal-Mart, AT&T, General Electric, Home DePot, Facebook, Kroger, etc.). A Baskin and Robin store is recommended because it is small and simple and easy to do for this assignment. Respond to the following questions with respect to the business you choose. Enter your answers in the box underneath each question. Refer to the example response on the next page for guidance.

Questions:

Identify the business and list at least one example of an economic resource for each of the four categories listed in your text that this company uses (or very likely uses). -Remember, you are considering economic resources (e.g., labor, capital, entrepreneurial talent, etc.), and not payment for these resources (e.g., wages, etc.).
Why are these resources scarce? For example, who else could use them or what other use might they have?
How can the study of economics help this company decide how to better use these resources?

Reference no: EM133339792

Questions Cloud

Negative effects on unemployment on an economy : Discuss four negative effects on unemployment on an economy - Outline three objectives and clearly explain how each of them is measured

How is department and organizational performance measured : Organizational/Departmental records and reports: how is department and organizational performance measured? Where is improvement needed?

What was the unemployment and inflation data : What was the unemployment and inflation data from 2005 to 2014 concerning output and growth, using macroeconomic principles and models to explain their effect

What is the yield of manufacturing flat panel displays : The manufacture of flat panel displays includes two basic steps: (1) fabrication of the display, in which many pixels are fabricated on a glass substrate.

How can the study of economics help this company : Identify the business and list at least one example of an economic resource for each of the four categories listed in your text that this company uses

Relationship between money and inflation : ECON 5700 University of North Texas inflation rate goes up a short time after that. Since the money supply has been going up, we're in for an extended period

Examples of innovative recycling program : For example, this could be an innovative recycling program or a leadership development program for female executives.

Compare to gdp growth over the previous 20 years : ECON 7313 University of Arkansas, Little Rock For the USA economy as of October 2022 - How does GDP growth rate over the last year compare to GDP growth over

Describing the transition from local trade : which people are also engaged in long-distance trade--the "sharp break" in characteristics? According to North, how is this related to the concept of economies

User Account

All Pages