Choosing a Firm
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 may select ONE firm from a list available from Entrepreneur magazine:
For this first assignment, let's take a closer look at the firm of your choice in the context of what you are learning in this module. Write a 2- to 3-page paper on the following issues:
What firm did you pick? Why is it interesting to you?
What are some opportunity costs of starting your own franchise?
List the three factors of production and explain if and how they are used by your firm.