Genise Suda, Shawanna Baker,
November, 5 2012
Throughout this paper we are going to discuss and explain many different economic subject matters. First we will compare and contrast public goods, private goods, common resources, and natural monopolies. This will be …show more content…
There are several things that could affect the supply and demand. One of them is keeping the customers wanting to come back. The time of the season will affect how busy they are. If weather conditions are bad, they might not get as many people walking in. Another is cost. If costs are not low enough for the area, people would not be able to afford the services. Competition is also a factor. If there is too much competition in the area than people will be tempted to go to another salon. The last thing to consider is to keep good friendly stylists in the salon so that people get a great service and have a good experience with their stylist.
Economics is a very complicated topic, as we well know. In order to understand its complexities, personalizing it can help make sense out of it. Throughout this paper, an effort was made to define the terms and address all the topics using a realistic approach. We selected an organization that one of our team members actually works for in real life. Applying the terms and definitions to the functions of this organization helped our group to see the ebb and flow even the smallest changes can make. Real life experience is usually always a