Task: Suppose that you want to open a new business or purchase an existing one:
1. Describe that business. What good or service would you provide? Where would it be located?
2. How would you think about whether it is a good idea to leave your current job to start the business?
3. What would be some explicit costs of starting the business? What would be some implicit costs?
4. Where would you get the money to start the business? How would you think about its cost?