Kevin Gilbert - Photo essay

1. Photo Essay:
Thinking Like an economist
By Kevin Gilbert

2. Atlanta Motor World
• Goods And Services
– Sells motorcycles/dirt bikes, 4 wheelers, etc.
– Provides maintenance / repairs to
motorcycles/dirt bikes, 4 wheelers, etc.
• Factors of Production
– Building
– Parking Lot
– Salesmen
– Maintenance Team
– Computer
– Manager
– Products to sell (dirt bikes, sport bikes, 4
wheelers, etc.)
• Opportunity Cost
– Not having any fun
– Walking, riding train to work
• Trade Off
– May not have the product you are looking for.

3. Chevy Dealership
• Goods And Services
– Sells Chevrolet motor vehicles
– Provides vehicle maintenance.
• Factors of Production
– Building
– Parking Lot
– Salesmen
– Maintenance Team
– Computers
– Manager
– Cars and Trucks to sell
– Insurance to let customers test drive vehicles
– Gas to let customers test drive vehicles
• Opportunity Cost
– Having someone else drive you somewhere
– Having a broken vehicle
• Trade Off
– Salesmen may trick you into a deal.

4. Chick Fil-A
• Goods And Services
– Chick Fil-A fast food products
– Beverages
• Factors of Production
– Building
– Parking Lot
– Cashiers
– Employees To Cook Food
• Opportunity Cost
– Eat at home
– Not get to have your favorite lunch!
• Trade Off
– Your food was burnt or not cooked right

5. Kroger Gas Station
• Goods And Services
– Provides gas to motor vehicles, as well as
restrooms, food, etc.
• Factors of Production
– Building
– Parking Lot
– Cashiers
– Computer
– Manager
– Gas Pumps
– Gas
• Opportunity Cost
– Walking, riding train to work
– Having someone else drive you to work
• Trade Off
– May not have the product you are looking for.

6. Walmart
• Goods And Services
– Household appliances
– Food products
• Factors of Production
– Building
– Parking Lot
– Cashiers
– Managers
– Large amount of products
• Opportunity Cost
– Not having any food
– Not having the tools you need to do a task
– Not getting “low” prices
• Trade Off
– Manager isn’t around

7. Image Sources
• Kroger Gas Station
• http://currentnoblesville.com/kroger-opens-fuel-station
• Walmart
• http://en.wikipedia.org/wiki/Walmart
• Chick Fil A
• http://postgradproblems.com/14-things-you-probably-didnt-know-about-chick-fil-a/
• Chevy Dealership
• http://dealer-communications.com/news/under-the-blue-arch-to-debut-in-chevy-dealer-
group-ads/
• Atlanta Motor World
• http://www.atlantamotorworld.com/default.asp