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Crash Course in Economics: Running Shoe Business Decisions

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running in Place: a crash course in economics Cassandra, Sara, Annabel, & Brandon
Wants & Needsa balancing act Producer Make as much money as possible! Consumer To satisfy their wants/needs within their means.
Factor Market Bringing together buyers and sellers of resources Things you use to produce your product and build your business For you Labor Shoe materials And a contract with Beckett Brings in a stable market But costs 40mil
Our recommendation: Contract Beckett Will attract a large fan following May cost $40,000,000 but is sure to generate more profit Always good to have a face behind the product Unskilled labor Cheaper Allows to produce more product without going in the hole Make in America Have the reputation of being domestic Appeal to morally inclined consumers Type: Cross training shoes They’re cheap to produce Appeal to wide range of people People who play sports, go to the gym, etc. Because they are cheap we are able to produce more, sell more, and make more profit while still making them affordable for parents and teens alike.

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Crash Course in Economics: Running Shoe Business Decisions

  • 1. running in Place: a crash course in economics Cassandra, Sara, Annabel, & Brandon
  • 2. Wants & Needsa balancing act Producer Make as much money as possible! Consumer To satisfy their wants/needs within their means.
  • 3. Factor Market Bringing together buyers and sellers of resources Things you use to produce your product and build your business For you Labor Shoe materials And a contract with Beckett Brings in a stable market But costs 40mil
  • 4. Our recommendation: Contract Beckett Will attract a large fan following May cost $40,000,000 but is sure to generate more profit Always good to have a face behind the product Unskilled labor Cheaper Allows to produce more product without going in the hole Make in America Have the reputation of being domestic Appeal to morally inclined consumers Type: Cross training shoes They’re cheap to produce Appeal to wide range of people People who play sports, go to the gym, etc. Because they are cheap we are able to produce more, sell more, and make more profit while still making them affordable for parents and teens alike.