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:
http://www.entrepreneur.com/franchises/rankings/franchise500-115608/2012,-1.html
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.:
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.
Describe how these issues in economic affect you
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