Photo Essay: Thinking Like An Economist

Economics in My Community

Pet Saloon/ Hotel• Goods and Services

• Pet grooming• Nail Clippings• Hair Products for Pets• Hotel Services/ Doggy

Daycare

•Factors of Production

•Corner lot

•Various Pet Supplies

•Concrete

•Building

•Computers and Water Basins

•Employees

•Opportunity Cost

• Coming 35 minutes from Downtown Atlanta

•Trade Off

•Going to trade school for hairstyling

• Factors of Production

•Lot for store

•Clothing

•Cashier

•Employees

•Changing Booths

Clothing Store• Goods and Services

• Clothing for women of all sizes

• Opportunity Cost

• Having to carpool to work

•Trade Off

•Manager has to work on Christmas Eve

Financial Institution

• Goods and Services• Money• Checking/ Savings Accounts• Loans

• Factors of Production

•Corner Lot

•Concrete

•Safe

•Counter Staff

•Opportunity Cost

•Going to school for four years for Accounting degree

•Trade Off

• Manager has to stay after closing to balance accounts

Grocery Store

• Goods and Services• Providing foods, floral and

other minor household items for immediate consumption

• Factors of Production

•Building

•Corner Lot

•Eggs, Milk, Bread and other food items

•Cashiers, Florists, Bakers

•Opportunity Cost

•Purchasing at a grocery store instead a food mart

•Trade Off

•Manager might be out of state during busy food holidays

Gas Station

• Goods and Services• Providing gas, quick window

washes and readily available foods to consumers

•Factors of Production

•Corner Lot

•Gasoline / Diesel

•Food Products

•Manager

•Car Wash Liquid

•Opportunity Cost

•Riding the public transit to work

•Trade Off

•Manager having to arrive early to prepare hot food.