What are opportunity costs of starting your own franchise

Reference no: EM13936323

Choosing a Firm

In this SLP assignment for this session, you will be asked to examine the decisions of a small business owner. Since microeconomics is the study of individual households, firms, and government, we will take a closer look at the operations of a franchise firm. You will choose ONE franchise to follow for the entire session. You may select ONE firm from a list available from Entrepreneur magazine:

https://www.entrepreneur.com/franchises/fastestgrowing/index.html

Important Rule: Your franchise must NOT be in the top 50. Your professor will verify that your firm is acceptable.

This is a ranking of the fastest growing 500 franchises in the United States. Please pick only ONEfirm from here. You must reference this firm for all SLP assignments (Modules 1-5). Be sure the firm is interesting to you since you will analyze it for the entire session.

For this first assignment, let's take a closer look at the firm of your choice in the context of what you are learning in this module. Write a 2- to 3-page paper on the following issues:

1. What firm did you pick? Why is it interesting to you?

2. What are some opportunity costs of starting your own franchise?

3. Think about the three fundamental questions in economics. Apply each question to your firm.

4. List the three factors of production and explain if and how they are used by your firm.

SLP Assignment Expectations

Use concepts from the modular background readings as well as any good-quality resources you can find. Be sure to cite all sources within the text and provide a reference list at the end of the paper.

Length: 2-3 pages double-spaced and typed.

The following items will be assessed in particular:

· Your ability to apply the basic concepts from this module to different issues in economics.

· Some in-text references to the modular background readings (APA formatting not required).

· The essay should address each element of the assignment. Remember to support your answers with solid references including the case readings.

Reference no: EM13936323

Questions Cloud

What is expected relation between relative interest rates : Effects of real interest rates. What is the expected relationship between the relative real interest rates of two countries and the exchange rate of their currencies?

C# program to encrypt the letters : Consider this, the word is FEATHER. Remove duplicate letters, making FEATHR, and append the rest of the letters of the alphabet in reverse order.

Ensure data stored on file servers : Implement and install a website for a hospital. Needs to write an article that shows the WEBSITE DEVELOPMENT. Check and maintain the software which is installed in the network devices.

What are the basic rights of landlords and tenants : What are the requirements and general conditions of a valid lease? What are the basic rights of landlords and tenants? What are their rights in situations such as evictions

What are opportunity costs of starting your own franchise : What firm did you pick? Why is it interesting to you? What are some opportunity costs of starting your own franchise?

Copyright and other privacy policies along with navigations : Create a simple static website. Your website should have the following requirements Requirements: Create a master page Your website should have minimum of 5 different pages Your website should include a form that will register the users.

What factors affect future movements in value of the euro : Factors affecting exchange rates. What factors affect the future movements in the value of the euro against the dollar?

Evaluation of strategic positioning : Provide Snapchat's competitor identification and analysis - Evaluation of strategic positioning (perceptual maps required) - Identification of potential market opportunities (recommendation have to be research based)

Why do trade deficit announcement sometimes has an impact : Why do you think the trade deficit announcement sometimes has such an impact on foreign exchange trading?

User Account

All Pages