M14 blog6/Entreneurship interview guide

1.  Stanley Lewis Sr./ Sbl Lewis Trunking Service llc./6467 River Run Rd Riverdale,ga (30274)
2. Courier Service
3. 5 years
4. Freight Forwarding
5. 3 employees/truckdriving, map reading, customer service, networking skills, self motivation/dicipline
6. Faster,reliable service, community ties(smaller business aids in more personalized service to fit community needs)
7. Fedex and UPS/on the spot service, flexible hrs., Hot shots, dependability, and direct contact w/ customers
8. Networking, community service,increasing freight volume
9. 1)Self-motivation,2)dependability,3)cuctomer service
10. 1)Self-employment(set on hrs.),2) control money, 3) control own destiney

Reflection: From interviewing this person I've learned that it takes alot of thought into putting together a business.Such who to employwhich is based on based on skills, experience,and dedication.Also the hard work it takes and the state of mind you have to have in order to keep the business up and running.

1. Name of entrepreneur/Name of entrepreneur's business/complete address (including zip code)
2. Type of business organization
3. Length of time the business has been in operation
4. List products provided by the business (good and/or services)
5. Number of employees/skills needed towork in the business
6. List benefits of business to community/What does this business provide that similar businesses don't provide
7. Major competitor for this business and how this business remains competitive
8. Describe methods used to increase growth of business and any future plans for expanison
9. Three greatest challenges in operating the business
10. Three greatest rewards in operating the business

Microeconomics-Standard M11 &M12- Assignment 5

Role of Money-M11

1. Real money differs from play money because real money ahs value to it and play doesn't and real money has  purpose in the world so you can purchase things with it.
2. If someone wanted to buy my most prized material I would accept something equal to it or similiar to it in the place of money.

 1. The circular flow model tells us the three basic elements of the economy will work and interact together to ensure that needs and wants are provided.

        2. Househols pay taxes, provide labor to the government, and purchase goods and services from   businesses.

        3. Businesses accept labor payments from households through taxes, and tax goods and services to the government.

        4. The government recieves money from households through taxes, collect money from businesses through coroporate income taxes.

      5. Households are the four factors of production which is land,labor,capital goods, and entrepreneurship.

                                          Law of Demand and Law of Supply-M12

(a) The demand for chicken would increase causing a shift to the right in the curve.
(b) The supply would decrease and the curve would shift to the left.
(c) The supply of the coffee bean would decrease and the curve would shift to the left.
(d) The supply of the cardboard would increase and the supply curve would shift to the right.

a) The equilibrium quanity will increase because most adults will stop buying them because it contributed to high cholestrol.
b) The supply and quanity would most likely go down due to lack of workers
c) The equilibrium quanity would decrease because many consumers will buy the new product.

3. Substitutes can change the quanity demanded and a change in the consumer income.

Format and Instruction for Assignment #3 Standard:SSEF4

• The three basic economic questions that every society(economic system) must answer are "What to produce,How to produce, and For who to produce.
• An economic system is the method used by a society to produce and distribute goods and services.The four types of economic systems are market economy(capitalist) buyers and sellers answer the 3 basic economic questions,command economy-a central authority that makes all decisions(cuba,N.Korea,China)and government owns all means of production,traditional economy which is based on tradition and customs; determined by members of society,and mixed economy has a combination of economic systems

• In the market economy the buyers and sellers answer the basic questions,command economy the government only answer the questions,tradional the answers are based on customs and beliefs and determine by the members of society.
• The united States is a free and diverse economy, so therefore all economy systems are included
• The economic system used by the inuit is traditional because it was a tradition for that child to learn how to do the task by watching the adult do it first then trying to do the task afterwords,so basically the task was passed down.
• For profit motives all the economic groups want to make money. For private ownerships it would be the market economy and the traditional economy,for command economy the government controls everything, and for consumer sovereignty it would be market economy also.

Format& Instructions for Assignment #2

• If I owned a business, a production possibilities curve would tell me, what two things you can produce efficiently. Increasing of product profit and trade could cause your production possibilities curve to shift outward.
• The marginal benefit eceeds the marginal cost determines weather you are making a rational economic decision.
• Companies choose to specialize and trade because it increase production and profits If the companies did not specialize it would be a decrase in production and profits

• I feel that I need a better unstanding on this standard to really get into detail about the assignment.

Format&Instructions for Assignment#1/Standard EF1

• Scarcity influence the choices I make about spending money by having me think twice about buying expensive things when I go shopping due to saving money. Like one time I had chose to go shopping at the mall than to go to six flags. That decision made me feel kind of vis versa because the both of them were going to be fun, but I love to go shopping so I felt goood about my decision.
• Business owners influenced land by making money out of it,like building factories, businesses, and places that make money. They influenced enterpreneurship because enterpreneurs own their own buisinesses and that fall right in line with a business owner. Also business owners influence labor because with a company you need good workers to keep the business moving.
•  I can see myself more as an individual that makes decisions about the use of labor because I like to bring new ideas to the table  and take charge when it comes to making important decisions.
•  I'm pretty comfortable with this standard, I do think i need a little more help with it just to master it. What do you specificlly mean by capital and labor?