This photo essay examines several local businesses and applies economic concepts. It describes the goods and services provided by a pet salon/hotel, clothing store, financial institution, grocery store, and gas station. For each, it identifies the factors of production like buildings, supplies, and employees. It also discusses the opportunity costs and trade-offs involved, such as long commutes, working holidays, or taking on extra responsibilities. The essay analyzes how economic thinking applies in everyday community establishments.

1. Photo Essay:
Thinking Like An Economist
Economics in My Community

2. Pet Saloon/ Hotel
• Goods and Services
• Pet grooming
• Nail Clippings
• Hair Products for Pets
• Hotel Services/ Doggy
Daycare
•Factors of Production
•Corner lot
•Various Pet Supplies
•Concrete
•Building
•Computers and Water Basins
•Employees
•Opportunity Cost
• Coming 35 minutes from
Downtown Atlanta
•Trade Off
•Going to trade school for
hairstyling

3. • Factors of Production
•Lot for store
•Clothing
•Cashier
•Employees
•Changing Booths
Clothing Store
• Goods and Services
• Clothing for women of all
sizes
• Opportunity Cost
• Having to carpool to work
•Trade Off
•Manager has to work on
Christmas Eve

4. Financial Institution
• Goods and Services
• Money
• Checking/ Savings Accounts
• Loans
• Factors of Production
•Corner Lot
•Concrete
•Safe
•Counter Staff
•Opportunity Cost
•Going to school for four years for
Accounting degree
•Trade Off
• Manager has to stay after
closing to balance accounts

5. Grocery Store
• Goods and Services
• Providing foods, floral and
other minor household items
for immediate consumption
• Factors of Production
•Building
•Corner Lot
•Eggs, Milk, Bread and other food
items
•Cashiers, Florists, Bakers
•Opportunity Cost
•Purchasing at a grocery
store instead a food mart
•Trade Off
•Manager might be out of state
during busy food holidays

6. Gas Station
• Goods and Services
• Providing gas, quick window
washes and readily available
foods to consumers
•Factors of Production
•Corner Lot
•Gasoline / Diesel
•Food Products
•Manager
•Car Wash Liquid
•Opportunity Cost
•Riding the public transit to work
•Trade Off
•Manager having to arrive early to
prepare hot food.

7. Gas Station
• Goods and Services
• Providing gas, quick window
washes and readily available
foods to consumers
•Factors of Production
•Corner Lot
•Gasoline / Diesel
•Food Products
•Manager
•Car Wash Liquid
•Opportunity Cost
•Riding the public transit to work
•Trade Off
•Manager having to arrive early to
prepare hot food.