GROUP 5

By: Rafael, Kevin, Mothi, Timmy

 Basic Economic Questions

WHAT TO PRODUCE. HOW TO PRODUCE FOR WHOM TO

IT. PRODUCE IT.
 The Question Is

Discuss How a Private Firm Producing Running

Shoes Would Answer the 3 Basic Economic
Questions?
1. We will be producing running shoes.

2. We will be making the shoes by manufacturing them in the factory. The shoes
will be made by assembling each part of the shoe with different materials.

3. We will be producing our shoes for the people who need to get back in shape
with style. This shoes will be unisex. Both for male and females.
Make a list of ten goods which are limited in supply (economic
goods) and a second list of goods which are unlimited in supply
(free goods)

1. Unlimited Goods/Free Goods 2. Limited Goods/Economic Goods

• Medicines •Sea Water

• Garlic •Rain Water
• Toys and Games •Sun Light
• New Movies •Wind
• Mask •Oxygen
• Tampons •Gravity
• Natural Gas •Carbon dioxide
• Toilet paper •Sound
• Petrol •Wood
• Coal •Vegetables
• Happiness
How many goods did you think of that
are unlimited in supply?
I think there are more unlimited supply goods than limited supply
goods. I think there are more than 10000 different types of unlimited
goods while only 5000 different types of limited goods.