Starting a Business Economics.

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Presentation transcript:

Starting a Business Economics

Starting a Business Get into groups of 3 or 4 Decide on a product or business to start and what market you will be targeting examples- a retail homemade ice cream business, a cookie-baking or specialty birthday cake business, and an errand-running or personal shopping business Once you have a product- research what type of resources/materials you will need to make your product? how many people will you need to make the product/ how much will you pay them? what type of building and tools will you need- how much does it cost? what type of advertising will you use- how much will it cost? How much will you charge for your product? Does the price cover your costs? Will you make a profit? How many of your products will you make at different prices? (supply schedule) remember – your goal is to cover your expenses and make a profit! Create an advertisement to show the class

Powerpoint Needs Logo Ingredients/Materials (with pictures and prices) Capital- pictures and cost of warehouse, equipment, tools, etc Advertising Supply Schedule & Supply Curve

Supply Curve (Use Powerpoint Graph Tool) Quantity