assignment 1

Satisfactory Essays
Assignment 1
(20 points)
Assignment 1: Economics

Save this file in your course folder, and name it with Assignment, the section number, and your first initial and last name. For example, Jessie Robinson's assignment for Section 1 would be named Assignment1JRobinson.

Type the answers to the assignment questions below. Use complete sentences unless the question says otherwise. You will have more than one day to complete an assignment. At the end of each day, be sure to save your progress.

Review Lesson 4 of the Course Overview for instructions about turning in your assignments.

Assignment Questions

In Section 1, you learned about economic principles. Now, you'll apply what you learned.

1. Choose a well-known company that you know of, and answer the following questions about it:

a. Is this mainly a product-based or service-based business? (1.0 points) it is mainly a product based company.

b. What type of good or service is this company best known for? (1.0 points it is a food service company so it is known for the food.

c. What makes the company different from its competitors? (1-3 sentences. 3.0 points) this company is known for there quality of fast food. The food is prepared much more fresh than other companies much like this one. This company also tends to have more of a range of foods to pick from.

d. Why do you think this company became successful? Describe at least one reason. (1-5 sentences. 2.0 points)
I think this company became successful because it was not the first company like it and people like to be able to grab something quickly and go so fast food works well.

2. Choose a different well-known company that you know of, and describe its direct and indirect competitors. Describe at least 2 direct competitors and 2 indirect competitors. (1-5 sentences. 4.0 points) a indirect competitor would be for example if someone opens a shop selling Malay rice while the opposite street another person is

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