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