Economics Project 2-Refer to the Sample provided

Project 2

Evaluation 32

Economics (BUSH 035 061)

Be sure to include ALL pages of this project (including the directions and the assignment) when you send the project to your teacher for grading. Don’t forget to put your name and I.D. number at the top of this page!

This project is worth 200 points. It will count for twelve percent of your course grade.

Project Instructions

Imagine a business you would like to own. Do some research in your local community to find out what kind of equipment you will need, how much rent and utilities will cost (check local listings), how many workers you will need (compare to similar businesses in your area), how much you will need to pay the workers (look up pay for similar workers in your area), and how you will meet start-up costs. Will you be able to get a loan? If so, how much will your loan payments be? Will you form a partnership? Once you have these figures established, use what you know about businesses to complete the project.

You may type your answers in the space provided after each question. Type your bibliography after the directions for Part C.

A. Company information:

1. Company name (1 point possible)

The company’s name would be “Patricia’s ”

2. Product or products being sold (2 points possible)

3. Location of business (2 points possible)

4. How will you conduct business (online, store, service, office setting, etc.)? (10 points possible)

B. Develop a Business Plan Guide for your company:

1. What factors of production are required to start the business?

a. Natural resources (5 points possible)

b. Labor resources (5 points possible)

c. Capital resources (5 points possible)

2. How will you cover start-up costs for your business? (10 points possible)

3. What type of business will it be, and why did you decide on this type of business? (10 points possible)

4. What government regulations will you have to follow? (10 points possible)

5. What barriers will you face? (10 points possible)

6. How will you produce and distribute? (10 points possible)

7. Why is there a demand for your good or service? (10 points possible)

8. How will you meet this demand? (10 points possible)

9. Who will your main competitors be (list actual businesses)? (10 points possible)

10. How will you compete with your competitors? (10 points possible)

11. How will you market your good or service? (10 points possible)

12. What type of labor force will you need? (10 points possible)

13. Does your community support this type of labor force? Does it have the supply? (10 points possible)

14. What types of wages and benefits will you need to provide your workers with? (10 points possible)

15. Will unions be part of your organization or have an effect on your business? (10 points possible)

C. Cite all sources (newspapers, websites, brochures, etc.) that you use in a bibliography. The Publication Manual of the American Psychological Association is commonly used for business papers. You can find this manual at your local library or do an Internet search for APA guidelines. (20 points possible)

D. Your paper should be well organized, without any errors in spelling, capitalization, or punctuation. If you are unsure about spelling or punctuation, consult a dictionary or a grammar guide. (10 points possible)

Project Submission

When you have completed Project 2, save this project assignment document with the name:

BUSH035061_YourNameHere_Project2.doc

Go to your course management system to upload your project file.