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Sahithi Edavally Photo Essay Econ 6 Week
1. Photo Essay: Goods and
Services in my
Community
Sahithi Edavally
Economics
6Week
2. Gas Station
• OpportunityCost
– The consumer forewent being late
to work as a result of his/her car
running out of gas en route to work.
• TradeOff
– The owner put off going to college
and earning an actual business
degree.
• Hours ofWork
– Long hours: 6AM-11 PM
• Consumer Efficiency
– Very efficient by allowing consumer
to take care of business and get to
work on time.
3. Gas Station Continued
Factors of Production
The owner had to acquire the
corner lot.
He had to hire workers to work the
register, clean the restrooms, and
restock the shelves.
A computer had to be provided.
A manager had to be hired so the
business could be overseen.
The gas pumps had to be built and
an outside company had to be
contacted in order to supply the
gas and diesel.
The concrete also had to be paved
over.
• Goods and Services
– It provides gas and
diesel for all cars.
– The convenience store
offers snacks, gum,
restrooms, and coffee.
– There is also a
windshield wiping
service and a pump to
refill the tires with air.
4. Restaurant
OpportunityCost
The consumer forewent eating a
home cooked meal.
Trade Off
The manager might have given up a
job offer at a large software company
in order to inherit the family business.
Hours of Work
The hours are usually from 9 to 6
almost like a standard job.
Consumer Efficiency
Very efficient because the consumer
can grab food in less than 5 minutes
usually and head out.
5. Restaurant Continued
Goods and Services
The restaurant provides a
nice dine-in area with tables
and chairs to have a meal
with a group.
The main service is providing
custom made subs and
sandwiches along with
pizzas, salads, and a variety
of other food items.
Various sodas, chips, cookies,
and other sides are also
offered.
Factors of Production
Some of the ingredients include
barbeque chicken, teriyaki chicken,
bacon, beef, lettuce, tomatoes,
pickles, honey mustard, sweet onion
sauce, and avocado.
8 different types of breads are also
offered includingWhole Wheat,
White, and Italian.
Sauces and other ingredients for the
pizzas are needed.
Ovens to heat the subs, tables, chairs,
sinks, and restrooms are also factors
of production.
The staff include a cashier, a sandwich
maker, and a manager.
6. Bank
OpportunityCost
The consumer forewent worry of
his/her money or valuables not
being safe at home.
Hours ofWork
It’s usually a standard 9-5 job.
Consumer Efficiency
It’s based on the rush, but people
are usually helped as they walk
through the doors.
Trade Off
The manager might have studied
accounting rather than learning
the general business practice.
7. Bank Continued
Goods and Services
The bank allows people to
pay for a locker in which to
keep official documents,
jewelry, or any other
valuables.
People can also open an
account and store their
money to be drawn at any
time.
Advisors are on staff to
provide consumers with
financial assistance when
needed.
Factors of Production
An adequate number of safes need to
exist to accommodate the many
consumers.
Intense security systems like video
cameras need to be available in all parts
of the bank.
A manager, a couple tellers, and a few
financial advisors are required to be on
staff at all times.
ATM machines need to be provided so
people can draw money when needed.
Computers will be needed to allow for
accurate depositing and counting of
money.
Money machines allow for easy counting
of large sums.
The owner also had to rent out the space
the bank is built on because it is
surrounded by many other companies.
8. Grocery Store
OpportunityCost
The consumer forewent the rush hour
traffic because this grocery store was
close to home.
Trade Off
The owner could have been relaxing at
home and watchingTV instead of still
working at 10:00 at night.
Hours of Work
The owner usually serves long hours.
Consumer Efficiency
Multiple lines and cashiers allow for easy
grab and go style shopping.
9. Grocery Store Continued
Goods and Services
Publix provides many
different groceries
including processed foods,
vegetables, fruits, cakes,
cookies, and other pastries.
The pharmacy service
allows people to retrieve
their prescriptions in an
easy and timely manner.
The bakery provides cakes
and other pastries.
Factors of Production
A manager, multiple cashiers,
cleaning staff, and employees to
restock are required.
Bakers and pharmacists need to
be certified in order to work.
Eggs, frosting, and vegetables
are just a few of the items
needed for the store to run.
Computers and cash registers
are needed.
The shelves and other sub-
buildings had to be built in order
to provide all of the services.
10. Arts and Crafts
OpportunityCost
The consumer forewent having to go from
store to store looking for supplies to finish
off a French poster board onWorldWar II.
Trade Off
The owner might have given up an interest
in becoming an artist.
Consumer Efficiency
The multiple lines and registers allow for
every consumer to be helped in a timely
fashion without too much of a wait.
Work Hours
Usually a 9-5 job.
11. Arts and Crafts Continued
Goods and Services
All kinds of art
supplies like paint,
canvases, ribbons,
and poster boards can
be found.
A fabric cutting
service allows for
consumers to pick out
their fabric and have
it easily altered to
their needs.
Factors of Production
The shelves and racks for
all the supplies had to be
built.
A manager, cashiers, a
cleaning staff, and
restockers are required at
all times.
The lot might have been
rented because it is found
in the midst of other
companies in the
complex.
