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Thread: help with my economics assignment

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    Lightbulb help with my economics assignment

    so i have to do an economics assignment about burger king

    picture


    could someone please help me out here i really need some guidance in the right direction as i have to write a report about this but i don't know how to explain how burger king manages its factors of production (cell) capital, entrepreneurship. labour and land at a local and national level

    help would be really appreciated as i know for a fact there are alot of smart people here on villavu
    Last edited by kingsleyeng; 06-28-2012 at 08:45 AM.

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    Do we get to see the notes? Is there any material to base this off? I doubt it's all done on common knowledge.

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    Quote Originally Posted by [S]paz View Post
    Do we get to see the notes? Is there any material to base this off? I doubt it's all done on common knowledge.
    you see the information it asks for in task 1 was rather a failure because when we did the trip to burger king the person we were suppose to talk to was sick so we had to talk to the supervisor who gave us hardly any notes pretty much its just talking about the things it asks for but referring to burger king e.g. before the new booth they could get 50 through the drive through and now they can get 80 and some stuff to do with machinery

    i don't really need you to give me the answers about burger king mostly i need you too guide me into what to write because since this is my first year in economics i don't really have a very strong knowledge about to what to write in these reports

    just say if it was a report on something you know how would you talk about cell

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    some notes

    report
    how does Burger king manage its factors of production?
    nation-cell
    local-cell

    productivity-tele/graph+ decisions
    consequences
    commercial+non commercial
    price+non price
    consequences to society

    my teacher kinda explained it like this action/decisions to consequences with data and explanatory between.

    they look after non commerical canteen
    try not to cook too much use last weeks sales to predict capital
    12-2 5-8 rush hour labour
    most consumers go through drive through most business is through drice through
    use broiler but microwave saves 15 secconds capital
    6 people working max usually 4,2 service labour
    3 on drive through takes orders 1 takes money 1 deliver 1 run orders
    increased amount of cars through drive through per hour 50 to 80 since this use of labour
    Last edited by kingsleyeng; 06-28-2012 at 08:41 AM.

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    This is where it will become hard. Since no one here has been and talked to them.
    So the info we have, based on your notes and google, doesn't really help in anyway. Sorry but not sure anyone here would be able to help much.

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    Quote Originally Posted by [S]paz View Post
    This is where it will become hard. Since no one here has been and talked to them.
    So the info we have, based on your notes and google, doesn't really help in anyway. Sorry but not sure anyone here would be able to help much.
    thanks for trying anyway man

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    Was gonna give this a shot, but then I saw "Burger King (NZ) Ltd."
    Im in the US, so Im guessing the production techniques differ from each country and so on due to different laws.
    Sorry man.

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    Here is a rough explanation to some of the questions: (if u have any doubt about any economic terms used, just google them. Or if u've never heard of them, most likely u haven't learn them yet/its out of ur syllabus so dont use them as ur answer, or use them to impress ur teacher

    Since BK(Burger King) is a multinational corporation (MNC), it will outsource its factors of production (FOP) and offshore its operation, so as to minimize costs of production (COP) and increase total revenue, thus maximizing profit (the ultimate goal of all private producers).

    Hence BK is likely to outsource the raw materials, such as beef, wrappers (whatever a burger is made of?) from resource-rich countries such as Brazil, as well as (cheap) labour from developing countries such as China, India for the manufacturing of BK (assuming they are sending semi-finished products, rather than just the raw materials, to the retailer) so as to enjoy lower costs of production.

    As for off-shoring operation, BK is more likely to operate in developed countries or city areas, where there will be higher effective demand (ability as a result of high purchasing power due to high income, and willingness as a result of taste and preferences of city workers in favoring fast-food restaurants).

    All the above factors would probably contribute to increasing productivity over the years. However, the recent global economic crisis may result in a fall in demand for BK, as demand for BK tends to be income elastic (normal good). Therefore to prevent unplanned inventory accumulation, BK may lower its production (such as by retrenching workers) during the economic recession.

    Price strategies: Lowering COP through outsourcing, as well as off-shoring to increase demand, hence increasing scale of production, thereby realizing economies of scale, further reducing the average COP. Hence it is able to offer lower price to customers.

    Non-price strategies: Product differentiation (through advertisements) and adhering to the taste and preferences of customers.

    Consequences of these strategies: consumers are able to enjoy high quality and low price of burgers. However, it may lead to over-consumption as consumers may not be aware of the true costs of consumption, that is, the total costs of consumption which includes not just the price of the burgers, but also the potential long-term health impacts that they have to bear as a result of the consumption. This means that consumption of burgers may generate negative externalities, in the form of higher budget investments in healthcare, as well as reduced workforce productivity, due to the negative health impacts (obesity, diabetes) that consumption of burgers brings to the consumers.

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