Suppose you operate an ice cream shop in the summer months. At the…
Question Answered step-by-step Suppose you operate an ice cream shop in the summer months. At the… Suppose you operate an ice cream shop in the summer months. At the beginning of each year, you begin making plans for opening the ice cream shop by Memorial Day, commonly considered the beginning of the summer season. Your plans include organizing all the factors of production to ensure you can check each one off the list in order to be fully prepared.Your project should include a report of one or two pages to explain your process, an illustration of your imaginary ice cream shop, and a diagram showing how each factor of production contributes toward the business.Step 1: Write a reportDescribe how each factor of production contributes toward opening and operating the business.Include a checklist with each factor of production listed and described:Labor: Name the people who will work with you in the shop.Capital: Identify the funds needed or secured to start up the shop.Entrepreneur ownership: Indicate whether you will start up and operate the shop alone or have a partner.Natural resources: Name the tangible resources needed to operate your shop. Determine if you will only serve ice cream or also serve grilled food such as burgers and hot dogs.Information resources: Describe the knowledge or expertise possessed by the people involved in your business, along with any relevant market data you might use to help determine expenses, pricing of products, and pay for employees.Step 2: make an illustrationEnvision your concept of what your ice cream shop might look like.make an illustration of your shop or use a copyright-free image.Place the illustration/image in the center of your document.Step 3: Draw a diagramAround your shop image, draw your diagram of factors of production with arrows from each one pointing toward the shop.Use text or additional images to indicate each factor of production. Business Entrepreneurship HIGHSCHOOL 123 Share QuestionEmailCopy link Comments (0)


