Running in Place<br />Courtney Dierolf, Jack Robertson, Joshua Aragon, Jonathan Adams<br />
Econ Crash Course<br />Market Economy<br /><ul><li>Prices freely based on the laws of supply and demand.
No interference from the government.
Run by the market itself.</li></li></ul><li>Product Market<br /><ul><li>Mechanism that allows people to buy and sell produ...
On a product market companies can sell finalized products to consumers </li></li></ul><li>Factor Market<br /><ul><li>Quant...
Major factors of a factor market
Labor
Capital
Land and entrepreneurship
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running in place

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  • Transcript of "running in place"

    1. 1. Running in Place<br />Courtney Dierolf, Jack Robertson, Joshua Aragon, Jonathan Adams<br />
    2. 2. Econ Crash Course<br />Market Economy<br /><ul><li>Prices freely based on the laws of supply and demand.
    3. 3. No interference from the government.
    4. 4. Run by the market itself.</li></li></ul><li>Product Market<br /><ul><li>Mechanism that allows people to buy and sell products.
    5. 5. On a product market companies can sell finalized products to consumers </li></li></ul><li>Factor Market<br /><ul><li>Quantity factor and factor price are determined
    6. 6. Major factors of a factor market
    7. 7. Labor
    8. 8. Capital
    9. 9. Land and entrepreneurship
    10. 10. Labor Market- Human labor whose capital is based on ones skill. The price of labor is wage rate
    11. 11. Capital Market- funds firms use to operate production
    12. 12. Land Market- natural resources (water, gas, minerals, etc)</li></li></ul><li>Marketing Options<br />We will explain each option and in the end give our reasoning to you for which one is the best.<br />Unskilled Labor with out Beckett contract<br />Unskilled Labor with Beckett contract<br />Skilled Labor with out Beckett contract<br />Skilled Labor with Beckett contract<br />
    13. 13. Skilled Labor with out Beckett contract<br />More Expensive shoe<br />Better product<br />Appeal to avid runnersbecause they are willing to buy the more expensive brands of shoes<br />Wouldn’t sell to other people because of the cost<br />
    14. 14. Unskilled Labor with out Beckett contract<br />Make more shoes<br />Avid runners won’t buy<br />Cheaper shoe<br />
    15. 15. Skilled Labor with Beckett contract<br />More expensive shoe<br />Appeal to avid runners because they want good quality shoes and are willing to pay for expensive shoes<br />Willsell as much to other people because of the endorsement<br />
    16. 16. Your best option! Unskilled Labor with a Beckett contract<br />More profit because someone is endorsing it<br />Make more shoes<br />Middle and lower class familieswillbuy it<br />Lower and middle class families make up most of society <br />Contract with Beckett will help these shoes appeal to more people<br />These shoes will be sold at familiar and common stores such as Footlocker and Wal-Mart.<br />
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