Constructed Response Activity

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Starting a small hand-made candy business requires fewer resources, and labour is readily available. However, starting a car wash will require a large amount of water, an aspect that will raise the costs of operations. Furthermore, different regulations will affect the operations of the business. The time required to run the business is also scarce. As a result, starting a candy business would be the best alternative because it requires less initial capital and labour.
Groceries take a large segment of the family income. However, $8000 would be required to enable me to start a small business which will help me take care of my personal needs as well as those of the families. In this case, I will have to forego the benefits of reducing the grocery budget from the family members. Nevertheless, the money will enable me to achieve the long-term dream of managing and growing with my business.
Reducing the number of hours from 8 to 7 will save 364 hours a year while a vacation of two weeks will save 336 hours. However, the number of hours saved is not the only consideration. Instead, family time is more critical especially at this time when the level of individualism is very high. As a result, I would choose a paid vacation because it will be significant in strengthening the family bond.
Capital is the most valuable resource for a start-up (Rasmussen 65). The reason is that with the capital, it’s possible to purchase land and hire a highly-qualified workforce.

Therefore, I would choose capital to enable me to manage the rest of the resources with ease. Nevertheless, in this case, l will have to lose labour which is critical in spearheading the growth of the business in the market.
Works Cited
Rasmussen, Svend. Production Economics: The Basic Theory of Production Optimisation. Springer, 2013.