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Local Businesses

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Abigail Remaley

on 5 June 2015

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Transcript of Local Businesses

Local Businesses
Goods & Services: Sells foods, alcohol, has pharmacy, limited home goods, toiletries
Factors of Production: Land lot, management, cashiers, pharmacist, cash registers
Opportunity Cost: Buying from local vendors
Trade Off: Manager has to spend time at work instead of with children
Paradise Grille
Goods & Services: Food, beverage, take-out & sit-down
Factors of Production: Food, restaurant space, management, cooks, wait staff, grille, oven, refrigerator
Opportunity Cost: Home-cooked meal
Trade Off: Owner had to invest in restaurant rather then a new car
Ivy Lane Boutique
Goods & Services: Clothing, gifts
Factors of Production: Clothing, jewelry, college products, management, cashiers, space in plaza
Opportunity Cost: Home-made gifts
Trade Off: Owner had to get a business degree rather than a fashion design degree
Once & Again Used Books
Goods & Services: Used books
Factors of Production: Space in plaza, used books, cashier, management, computer
Opportunity Cost: New books
Trade Off: Manager has to spend time organizing books instead of at home
Dance Max Dancewear
Goods & Services: Dance wear & supplies, shoe fitting
Factors of Production: Dance clothes, dance shoes, cashiers, shoe expert, space in plaza
Opportunity Cost: Order dance supplies online
Trade Off: Owner has to stay in shop to fit shoes rather than spending time away
Image credit: Google Images
Full transcript