Around the World Activity

Chapter 7 Production and Costs—Around the World

Read the following articles and pages in order to answer the below questions.

1. In the article “Driving Miss Daisy Dog,” which BEST describes the target clientele of Rapid Paws?

students without access to vehicles

professionals at or over age 40

young professionals at or below the age of 30

politicians and policymakers in the D.C. metropolitan area

2. Before they went into business, what did the founders of Rapid Paws do to approximate demand for their services?

They conducted surveys in the Washington, D.C. area.

They spoke with nearby local governments to approximate the regional pet population.

They used sales data from pet hotels and grooming.

They decided demand for their service would be similar to the demand for ride-sharing services (like Uber and Lyft).

3. According to the Business Insider article, what is the chief problem that Netflix socks solves?

to use biometric readings to let Netflix know what shows or movies to suggest next

to pause viewing when the wearer falls asleep during “Netflix binges”

to pause viewing when the wearer gets up

cold feet

4. In the article “KFC, With New Nail Polish, Redefines Chicken Fingers” which description BEST fits the product that is the subject of the article?

fingernail polish that changes color when eating salty fried chicken

fingernail polish that shares colors with the KFC logo

fingernail polish that smells like KFC chicken

fingernail polish that tastes like KFC chicken

5. If any of these products or services become successful, what must be true?

The government must subsidize these products and services.

The providers of these products and services need to capture market share from more traditional businesses and product lines.

There must be people willing to purchase these products and services.

There must be more people willing to supply these types of products and services.