Things to Keep in Mind Before Getting a Retail Business Loan A retail business loan can be a lifeline for retailers seeking growth opportunities, improved cash flow, and enhanced operational capabilities. With flexible funding options, tailored terms, and easy access to capital, retail business loans provide the necessary financial support to thrive in a competitive market. As a retailer, it is important to explore the various lending options available and select a loan that aligns with your unique business requirements. So, if you're ready to take your retail business to new heights, consider the benefits and advantages of a retail business loan and unlock the doors to success.Things to Keep in Mind Before Getting a Retail Business Loan A retail business loan can be a lifeline for retailers seeking growth opportunities, improved cash flow, and enhanced operational capabilities. With flexible funding options, tailored terms, and easy access to capital, retail business loans provide the necessary financial support to thrive in a competitive market. As a retailer, it is important to explore the various lending options available and select a loan that aligns with your unique business requirements. So, if you're ready to take your retail business to new heights, consider the benefits and advantages of a retail business loan and unlock the doors to success.Things to Keep in Mind Before Getting a Retail Business Loan A retail business loan can be a lifeline for retailers seeking growth opportunities, improved cash flow, and enhanced operational capabilities. With flexible funding options, tailored terms, and easy access to capital, retail business loans provide the necessary financial support to thrive in a competitive market. As a retailer, it is important to explore the various lending options available and select a loan that aligns with your unique business requirements. So, if you're ready to take your retail business to new heights, consider the benefits and advantages of a retail business loan and unlock the doors to success.Things to Keep in Mind Before Getting a Retail Business Loan A retail business loan can be a lifeline for retailers seeking growth opportunities, improved cash flow, and enhanced operational capabilities. With flexible funding options, tailored terms, and easy access to capital, retail business loans provide the necessary financial support to thrive in a competitive market. As a retailer, it is important to explore the various lending options available and select a loan that aligns with your unique business requirements. So, if you're ready to take your retail business to new heights, consider the benefits and advantages of a retail business loan and unlock the doors to success.Things to Keep in Mind Before Getting a Retail Business Loan A retail business loan can be a lifeline for retailers seeking growth opportunities, improved cash flow, and enhanced operational capabilities. With flexible funding options, tailored te

1. Basic Economic Questions
What every economy, business
and consumer must answer!

2. How do businesses make money?
• Businesses make money by selling goods
and services
• What are Goods and Services?

3. Goods
• Goods are physical objects such as:
– Computers
– Sneakers
– Cars

4. Services
• Services are actions that a person
performs for another person.
– Teaching
– Cleaning
– Fixing my car

5. Economic Questions
• All economies, businesses and people
must answer the following questions:
1. What goods and services will be produced?
2. How will the goods and services be
produced?
3. Who are the goods and services for?
4. How much will be produced now and how
much later?

6. What are resources?
• Resources are the materials from which
goods and services are made.
• There are 3 types of resources.

7. 1. Human Resources
• A person’s knowledge, skills, attitudes and
abilities determine that individual’s value as a
human resource. The more rare the skill,
knowledge etc. the more valuable and higher
pay.
• Ex. Unskilled workers- low pay
Teachers- high level of education, higher
pay
Doctors- a lot of education and rare skills,
well paid
NFL quarterbacks- rare physical abilities,
very well paid

8. 2. Natural Resources
• Raw materials from which goods and
services are made.
• Land
• Timber
• Oil

9. 3. Capital Resources
• Money and property used to produce
goods and services
• Tools
• Buildings
• Machines

10. My Pizzeria
• Imagine we start a pizza business. What
are the
– Human Resources
– Natural Resources
– Capital Resources

11. Human Resources
• A Manager
• Pizza maker (cook)
• Cashier
• Dishwasher
• Delivery person
• Who will get paid the most? Why?

12. Natural Resources
• Flour
• Cheese
• Vegetables
• Meat and other
toppings
• Tomato Sauce
• Gas for pizza oven
• Water
• Electricity
• Paper Plates
• Paper Napkins
– Note: these items are
used once, then
disposed of.

13. Capital Resources
• Building/Storefront for the restaurant
• Pizza Oven
• Cash register
• Counter
• Refrigerator/Freezer
• Re-usable plates
• Re-usable napkins (cloth)
• Car for deliveries

14. Create a Business
• What goods or services will you provide?
• What is the name of your business?
• Where will you locate your business?
• Why did you choose this location?
• List the human, natural and capital
resources you’ll need.