This week you begin your course paper. You are to select a company to observe and answer the questions below. Please refer to the Week 02 Course Paper – Introduction for an overview of the complete project for this class. This paper is meant to help you identify some of the economic issues that companies deal with in the “real world” of business. Throughout this course, you work on this project in pieces. Be sure to save all of your work. During the final week of class, you prepare an essay that summarizes how microeconomics affects your company.
Select a company that you are interested in to conduct your research. Make sure that you are able to obtain adequate information on the company. Your best bet is to select a company that is publicly traded since the information is readily available. Once you have selected your company answer the questions that follow. Remember that you will be following this company throughout the term, so make sure it is a company that is interesting to you.
Prepare an essay that addresses the following questions. Remember to cite your sources in APA format.
What company did you select and why?
What is the product and/or service sold?
What are the limitations of your company’s resources?
What type of advantage does your company have in the marketplace?