Discussion Unit 8 Business law and Microeconomics

Microeconomics Unit 8 Discussion

Your Own Business

Assume that you are going to start a small business of your own.

Describe the business and, utilizing the concepts of this unit and the earlier units, discuss:

1. what costs you would incur;

2. what competition you might experience;

3. how you would determine the price you would sell your product; and,

4. how much product you would produce?