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Listen to the podcast linked here and answer the following questions before Thursday: https://www.npr.org/sections/money/2017/07/21/538621509/episode-785-the-starbury
https://www.npr.org/sections/money/2017/07/21/538621509/episode-785-the-starbury
1. The podcast mentioned several inputs of the Starbury shoe. Name them.
2. Classify costs listed above as fixed, variable, sunk, intangible and opportunity cost.
3. What is one thing that Steve and Barry’s do not spend money on?
4. Are you surprised the shoe failed during the Great Recession? Why or why not?
5. Did Stephon Marbury incur any costs when producing this shoe?
6. When profit is discussed in this episode, is it accounting profit or economic profit? Explain your answer.
7. List any intangible assets used in the production of this shoe.
8.
Choose a basketball shoe (or other clothing item.) Based on what you’ve
learned, list as many factors that affect the pricing decision of the
item. (Hint- it’s not just the materials to make the shoe!)
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