Posted: September 13th, 2017
microeconomics is the study of individual households, firms, and government
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 can select ONE firm from a list available from Entrepreneur magazine:
Important Rule: Your franchise can NOT be in the top 50. Your professor will verify that your firm is acceptable.
This is ranking of the top 500 franchises in the US. Please pick only ONE firm from here. Be sure it is interesting to you since you will analyze this firm for 11 weeks.
For this first assignment, lets take a closer look at the firm of your choice in the context of what you are learning in this module. Write a 2-3 page paper on the following issues:
What firm did you pick? Why is it interesting to you?
Think about the three fundamental questions in economics (see Chapter 1 in background reading or click here). Apply each question to your firm. For instance, in question 2 you can discuss what major resources are required by your firm).
Take a look at the “big Ideas” in the powerpoint presentation from the background materials (click here). Try to apply one of the big ideas to your firm in the way it operates.
SLP Assignment Expectations:
Use concepts from the modular background readings as well as any good quality resources you can find from the cyberlibrary or other internet search engines. Please be sure to cite all sources within the text and 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.
Describe how these issues in economic affect you
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