Econ Sept. 17
Published on Nov 20, 2015
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MORE DECKS TO EXPLORE
PRESENTATION OUTLINE
make it rain
who is going to make the most money??
Each widget produced will cost the company $2 in raw material, labor, and equipment.
Photo by Steve Bowbrick
You can sell based on the forumla P= $100 - Q. for each round of production, the market price will be 100 minus the total produced by all companies
Photo by Bert Kaufmann
If you guys make too much, you're in trouble.
Photo by kirsten.elise
At the end of round 3
one person from each team can talk to another competing company
Photo by blueCHEDDAR
Untitled Slide
- Each widget costs $2
- P = 100 - Q
- After round three talk business
- Let's see who wins!
Photo by Nazmul Hossain [ON/OFF]
What did we learn from our game yesterday?
Some traits of potential business upstarts?
Photo by Mukumbura
productive resources
anything used to create or manufacture valuable goods or services
Photo by ~Brenda-Starr~
Also called factors of production. At first we thought it was just land, labor, and capital. We now consider other things too.
Photo by A Guy Taking Pictures
Land
fertile soil, natural resources, below earth (oil), water - raw materials
Photo by Jason A. Samfield
These are the owners, managers, or innovators in the process of making a new company/business idea.
Photo by lyo
Microsoft bought this company...
for 2.5 billion
Tangible Resources
has physical properties, can be touched
Also have to consider an economy's environment for enterprise. Is the country a good place for business? Would it make sense to operate in this part of the world? Politics matter.
Photo by danielfoster437
Tangible and Intangible resources
work together to form real source of wealth/prosperity
Photo by 'PixelPlacebo'
