Apple Store: Provides May Services And Products

Apple The picture that will be analyzed throughout this paper is of an Apple store that is completely full of people. As a person views this picture, it is obvious that there are a lot of people there, either waiting or standing at a Mac, iPod, or iPad. The reason that this is significant is because this happens daily, depending on location. Apple is a company that has been around since the 1970’s, but has become very popular within the last 5-10 years. A person may ask why people would want to stand in an Apple store waiting around for hours at a time. There are countless reasons that will be explained throughout this paper. People never have enough goods, and are always wanting more and more. It is human nature to want more than what we already have. Scarcity indicates that there is less of a good freely available from nature than people would like. Some of these people are waiting in the store, because they have to wait for their product that was not freely available. For example, most people have to order their iPhone 4s’s ahead of time, because the product is scarce. Scarcity also brings out rationing, which in this case the people who have extra money for an Apple product are normally the people that will get this product first. People also have a choice to select one product over another. Some of these people are waiting in this store because they have made the choice of selecting this Apple product over another product made by another company such as Windows. The people that are sitting and waiting in this Apple store are choosing to be here over being or somewhere else or doing something else. This is called opportunity cost. These people believe that their time at the Apple store is more valuable to their time than doing something else such as working. A person that could be getting paid $10 an hour, instead is at the Apple store for 2 hours, so being at the Apple store must be worth more than $20 to that person. Economizing