assignment 8 Essay

799 Words Dec 7th, 2013 4 Pages
Assignment 8: The Business World
(24.0 points)

1. Choose a good that you are familiar with, such as a t-shirt, a tennis racket, a cupcake, a pair of sunglasses, or any other good. Be sure to choose something specific. Then, analyze its economic utility, using the questions below.

a. Describe the good you chose to analyze. (1 sentence. 0.5 points)
I chose a t-shirt to analyze.
b. Describe the form utility of this good. Is the form utility good or bad? Can you think of ways to improve it? (2-5 sentences. 1.0 points)T-shirts are a form of clothing that is used as an undershirt or an alternative to button up, polo shirt, etc. The t-shirt is very good at completing its utility.

c. Describe the place utility of this good. Is the
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4. Choose an example of a type of new company you could start, and then use this company idea to answer the questions below. TIP: You might choose to open a hair salon, a babysitting service, a record store, or many other things.

a. Describe the type of company you chose. (1-2 sentences. 0.5 points)
I would start a department store.
b. If you were starting a new company, describe at least three departments to the company that you

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