Chapter 1 T-Shirt Production Brochure Activity

Chapter 1 T-Shirt Production Brochure Activity Day 1 Choose teams and brainstorm a plan of what would be needed to produce T-shirts

Complete a chart of the following categories:

Land (all needed natural resources) Labor (all workers and titles) Capital (all buildings, machinery, tools, packaging etc.) Entrepreneurship (skills and initiative to make the business a success) Write a brief report summarizing the factors of production needed to start the t-shirt business

Day 2 Answer the following questions in detailed explanations: 1. Are you producing a good or a service? 2. If you are producing a good, is it durable or nondurable? 3. What consumers will your company target? 4. Where will you distribute your product? 5. Describe the value of your product. 6. Describe three ways you can increase your business productivity and achieve growth. 7. What other business will you need to depend on to make and sell your product? 8. Reflect on the success of your business considering what you have achieved so far.

Day 3 Your t-shirt business is now considering production of hats. Create a list of trade-offs associated with this decision. Consider all of the elements needed on day 1 to help you assess your decision. Create a production possibilities curve using the following data

Number of T-shirts and Hats Produced

T-Shirts Hats 500 0 400 175 300 300 200 350 100 400 0 500

Write a report of the costs of producing hats, the best combination of t-shirts and hats to produce for your company at this time and expected economic growth of your decision.

Day 4 Use all of the data your group created over the past three days to create a brochure that can be shared with an investor.