Sample Essay
The firm
Subway is an American restaurant franchise dealing basically with submarine sandwiches, salads and pizzas. Subway can be categorized among the fastest growing franchises around the globe, and today it has 33741 restaurants in 92 countries (Subway, 2010).
Why is it interesting
Subway’s products are great and the company knows what it is offering their customers. This is one of the reasons why I chose to write about this franchise. Secondly, Subway is the fastest growing franchise and thus is of interest to me. Also, the history behind this restaurant is interesting too. It basically started with a common man who borrowed money in order to start a sandwich shop. This shop came to be known first as Pete’s Submarines and later on it caught the name Pete’s Subs, changing to Subway we know today.
What should be produced
A company is required to produce whatever is in demand. This ensures that their products will be sold no matter what. The answer to the question of how much is supposed to be produced lies in the interaction between the supply and demand. The more the demands is for a certain product the more that company will produce it in order to meet the demand and sell its goods and thus earn profits. It is common knowledge that there is always scarcity of resources. Therefore, if more of one thing is being produced less of another will be made. It just makes perfect sense. There are always tradeoffs in practice (Case & Fair, 2004).
Other than this basic criterion, a company is also supposed to pay attention to the quality of their products. That is, they should not just produce the demanded goods, but produce them such that they are good enough and thus reputed.
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