Microeconomics Course Paper - Final Submission

MICROECONOMICS COURSE PAPER – FINAL SUBMISSION Company Selection – McDonald’s Since 1955, we’ve been proud to serve the world some of its favorite food. And along the way, we’ve managed not just to live history, but create it: from drive-thru restaurants to Chicken McNuggets to college credits from Hamburger U and much more. It’s been quite the journey, and we promise this is just the beginning-we’ve got our hearts set on making more history. The company that I choose is McDonald’s. I choose this company because they have very good fast food and are well known. I also think that I could find enough information to research this company for my paper. The products and services that McDonald’s sell depend on the location of the store and the franchise owner behind it. In a typical McDonald's store one can find the following: drive thru and lobby; restrooms; breakfast menu in the morning, with lunch starting at 11 or 10:30 a.m. depending on the day; someone who speaks Spanish; gift cards; play place for kids and parties; free Wi-Fi; variety of food, including burgers, salads, chicken, snacks and sides, beverages, ice cream, desserts and shakes; food under 400 calories; dollar menus; kids meals; booster seats for children; franchise opportunities; and nutrition information on their menu items. McDonald’s limitations of their company’s resources are that they only serve fast food and certain varieties of food products. They cannot stay open 24/7 in certain areas because of the population. Their food products are only sold at their facilities and cannot be bought anywhere else. For instance, Schwann’s foods can be bought in stores and the entire world. Also, they do not deliver their food so customers have to come to them. McDonald’s advantage in the marketplace is that they do have fast food for people on the run. They have a variety of foods and a dollar menu for people low on money. They are well known all over the world and they have a drive-thru. They have a lobby for people to sit and ea