A
When did the first A&W open?
1956
List one of the Charitable organizations and Recipient of the A&W food Donations.
-Winnipeg Harvest
- Quest Food Exchange
-Feed Nova Scotia
- Moisson Rivesud
- The Food Bank of Waterloo Region
Which Market Structure does A&W fall into?
Monopolistic Competition
what is the definition of Externality?
"A cost or benefit that arises from an action that falls on someone other than the person or firm choosing the action."
What is the Definition of Elastic Demand?
Demand with a price elasticity greater than 1; others remaining the same. the percentage change in the quantity demanded exceeds the percentage change in price.
Where did the first A&W open in 1956?
Winnipeg, Manitoba.
List one that benefits people's self interest.
Beyond Meat Burger
True or False
"A&W food has low content of salt."
False.
A&W was given and award for the most salt content in kids meals, therefore it is a negative consumption externalities (salt lead to stroke and heart disease)
What are the 2 Economic question?
- factors of production - what, how, and for whom goods and services are produced
- how do the choices made in self interest also promote social interest
What is the definition of Allocative Efficiency?
a situation in which good and services are produced at the lowest possible cost and in the quantities that provide the greatest possible benefit. We cannot produce more of any good without giving up some of another good that we vaue more highly
"for being the healthier fast food option"
Who are A&W main competitors?
-McDonald's
- Wendy's
- Dairy Queen
- Burger King
What did the company do to reduce waste?
- recyclable coffee sleeves
- Stainless steel cutlery, glass plates, and reusable mugs for dine in guests
What is Cross Elasticity of Demand?
"a measure of the responsiveness of the demand for a good to a change in the price of a substitute or complement, other things remaining the same."
What is the definition of Monopolistic Competition?
"A market structure in which a large number of firms make similar but slightly different products and compete on product quality, price, and marketing, and firms are free to enter or exit the market."
True or False.
A&W today is a Canadian Fast food chain.
True.
What is the most popular products do A&W sell?
- Teen Burger
- Beyond Meat Burger
What are the equipment used that has comparative advantage?
- grills, fryers, and automatic pop dispensers
"A Good that can be used in place of another good."
What is the definition of Demand?
" The entire relationship between the price of the good and the quantity demanded of it when all other influences on buyers' plans remain the same."
For whom do the 2 big economic question applicable to?
"average consumers like family, seniors, students, urban millennial."
- All day Breakfast
-Rootbeer
- they introduced Beyond Meat Burger
What is a Complement?
"A good that is used in conjunction with another good."
what is the PPF?
Production Possibilities Frontier: the boundary between those combinations of goods and services that can be produced and those combinations that cannot