Economices Papers

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Economics

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Writing Assignment | Econ Objective: Students will write an essay containing at least 750 words, excluding headings and bibliography. The essay must use at least four sources of information that are included in a bibliography and cited at least once in the essay using a popular citation method, such as MLA. Two of the sources must be scholarly and the remaining two can be either scholarly or popular sources. Assessment: Students’ work will be assessed using the following rubric. A maximum of six points will be awarded to students who exhibit the highest quality work. Core Learning Outcomes 1. Apply the methods of the social science(s) to the study of human social behavior. 3 points Outstanding 2 points Acceptable 1 point Deficient Demonstrates full knowledge of theoretical frameworks, concepts, and descriptive terms and how they relate to each other Partial understanding of theoretical frameworks, concepts, and descriptive terms and how they relate to each other Lacks understanding of theoretical frameworks; fails to demonstrate an understanding of the relationship of concepts, terms, and important ideas to each other Consistently demonstrates a detailed, evidence-based understanding of individuals as members of a particular culture and/or community Demonstrates an understanding of individuals as members of a particular culture and/or community Lacks an understanding of individuals as members of a particular culture and/or community Topic: Imagine that you are planning to start your own small business. An entrepreneur must use analytical skills to determine the day-to-day operation and financial outcomes of a new startup, not leaving out any details. Your task is to describe the product that your new startup will produce, describe the industry that your startup will exist in, and determine what the cost and revenue structure will look like. Be sure to describe your product in detail. Is it different from competitors’ products? How so? When describing the industry, try to determine which kind of industry your startup exists in (perfect competition, monopoly, oligopoly, or monopolistic competition). Do firms in the industry compete on price, on quality, or on differentiation (or a mixture of each)? Does your firm sell a commodity/standardized product? Will your startup be a price taker or a price maker? Are there any barriers to entry? Use these attributes to determine what is most likely to be the industry structure your startup faces. Remember that reality is not as straight forward as theory, so you will have to make a best-guess. When you describe the cost and revenue structure: 1) define the product, 2) determine what fixed inputs are used, 3) determine what variable inputs are used, 3) estimate fixed and variable cost for at least several different levels of output that your firm is likely to encounter, 4) determine the level of revenue that would be generated at different production levels. It might be handy to make a table when describing the cost and revenue structure. Try to determine the profit level associated with the production levels. How does the market for your new startup’s product look for the long run? Can you earn profit into the long run? Through the discussion, consider and integrate economic theory that was learned during class and show the reader that you understand how economic models work and apply them in a way that allows the reader to view the startup through them. Remember that economic models help us understand and predict economic realities, so be sure to choose an appropriate model and use it appropriately to predict the future. Assume the reader has a college-level education and can follow economic theory well, but could use a “refresher”. Due Date and Format: The writing assignment is due by 11:59 pm on May 7, 2017 (Sunday)
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Running head: BUSINESS PLAN-AUTOMATIC CAR WASHING BUSINESS

Business Plan-Automatic Car Washing Business
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BUSINESS PLAN-AUTOMATIC CAR WASHING BUSINESS
Business Plan-Automatic Car Washing Business
Businesses are developed to profit the founders/owners. Business plans are developed
to achieve this main objective by putting in place strategies that will make it realize the
dream. The automated car wash will offer cleaning services to clients who seek its services.
The automated car wash will be offering state of the art services that make customers come
back. The company will use market penetration strategies such as differentiating what we
offer from other competitors. The services will be customized to suit needs of our clients so
as to encourage repeat customers. It will create a good customer relationship and may use the
satisfied customers to bring more customers. The business intends to provide exclusive
services in exterior car washing, interior cleaning, and detailing. Automatic carwash has no
true competitors that are trying to offer a high-quality service for reasonable prices. However,
we are cognizant of the fact that th...


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