Assignment:
Discussion:
"Looking Closely at Cost and Competition"
Watch this video, Revenue, Profits, and Price: Crash Course Economics, to help you prepare for discussion.
Reply to the following prompts by using the company for which you currently work, a business with which you're familiar, or the dream business you want to start:
- Do you think it's easy for your selected business to enter this same industry?
- What are some key fixed, variable, implicit, and/or opportunity costs?
Discuss with your peers:
Read one of your peer's posts and share another idea for a type of cost.