PHOTO ESSAY:MODULE 1
Jessica BranniganMs. Goodman
Economics – Spring 201612 January 2016
Chick-Fil-a■ Goods and Services
– Food (sandwiches, salads, nuggets, etc.)– Drink (milkshakes, sodas, tea, etc.)
■ Factors of Production– Cooks, Cashiers, Managers, Owner, Janitors– Food and drink ingredients– Stove/grills/fryers/soda machines– Tables & chairs, cleaning supplies– Land, building, paving
■ Opportunity Cost – If I want Chickfila breakfast I have to wake up early to get it
before the breakfast time ends. The OC of having breakfast there before their breakfast closes would be more sleep.
■ Trade Off– The owner could use the money for a child’s college fund rather
than investing in a business.
http://wichitaonthecheap.com/free-chick-fil-a-veterans-day/
Racetrac■ Goods and Services
– Gas– Food/drink (snacks, lunches, frozen yogurt)– Restrooms– Air for tires
■ Factors of Production– Cashiers, Managers, Owner, Janitors– Food and drink – Frozen yogurt machines– Tables & chairs, cleaning supplies– Land, building, paving– Gas pumps
■ Opportunity Cost – The time I stop for gas cost me time on my way to my actual
destination. The OC is a faster commute time.
■ Trade Off– The man or woman opening a Racetrac could have simply chosen to
invest his or her money in the stock market instead of in a business.
http://www.mypalmbeachpost.com/news/business/racetrac-building-bigger-stores-expanding-in-flori/nWyNt/
Target■ Goods and Services
– Clothes– Groceries– Video games– Office supplies
■ Factors of Production– Cashiers, Managers, Owner, Janitors– All items in goods and services – Land, building, paving– Shelves, lights, computers
■ Opportunity Cost – The time I spend shopping at Target could be time I spend
doing my homework so my OC is my homework.
■ Trade Off– The man or woman opening a Target could have chosen to
open any other type of store like a Costco.
http://www.knuj.net/files/2015/11/TargetStore.jpg
American Eagle■ Goods and Services
– Clothes– Shoes– Accessories
■ Factors of Production– Cashiers, Managers, Owner– Land, Paving, Building– Computers – Shelves, hangers
■ Opportunity Cost – The time I spend shopping at American Eagle could be time
I spend with my friends so my cost is my time with friends.
■ Trade Off– The man or woman opening an American Eagle could have
chosen to spend more time with his or her family rather than running a business.
https://en.wikipedia.org/wiki/American_Eagle_Outfitters
Papa Johns■ Goods and Services
– Pizza– Breadsticks– Cookies
■ Factors of Production– Cashiers, Managers, Owner, Cooks– Land, Paving, Building– Computers – Pizza ingredients, Pizza ovens, Pizza boxes, delivery cars
■ Opportunity Cost – I spend money on Papa Johns therefore I cannot spend that
money at another restaurant or to buy something else.
■ Trade Off– The man or woman opening a Papa Johns could have chosen to
have less stress in their life but they chose to own a business so the trade off is a life of owning a business in hopes of making money rather than a life of less stress.
http://kycir.org/files/2015/08/1024px-2009-03-20_Papa_Johns_Pizza_in_Durham.jpg