2. What is Economics? - Def: Economics is the study of the choices that people make to satisfy their needs and wants.
3. Product Markets - Product Markets - Brings buyer and seller together. - Trade Offs -When one good is scarified for another. - Opportunity Costs - Value of the next best option.
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5. What the Consumers Want and Cost of Production - Middle Class citizens want cheap prices and better quality. - Higher Class wants the higher price and better quality.
6. Benefits of Having Beckett being our sponsor with skilled workers - Although the cost is more expensive, the quality of the shoe makes it last longer than many, we think that with having Beckett sponsor it, we'll also have an advantage with people.
7. Benefits of Having Skilled Workers - They produce better shoes - They get better care - Better pay - Although it is tempting to have unskilled workers because of saving money, but in the end you have more to hide & that can come to haunt you later on in life
