Microeconomics – Your Own Business

Microeconomics – Your Own Business

Topic: Your Own Business

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

Describe the business and discuss the following:

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?

500 words

outline

Answer Preview…………….

In economics when an individual start a business there is the need of ensuring that the business will bring revenue to the individual through minimizing the cost of doing the business. There are many types of small businesses that can be operated and run by an individual and at the end, there would be positive returns or income from the business. The small business that I want to operate is the sale of ice cream to the many high school students and many other…………………..

APA 563 words