In the first week of the macroeconomics course, we learned about opportunity cost and how we could apply this to the business of Ikea, the global furniture retailer. Please revisit the YouTube video from Week $1$The Economics of Ikea$$ before answering the question below.

List $10$ different business decisions that Ikea has made which led to consumers choosing to visit Ikea instead of doing other activities from an economic opportunity cost point of view $(10$ points$).$

For example $($no points given$),$ you can say Ikea gives staff meal benefits and shopping discounts for a happier workforce, which improves work efficiency. Consumers gain by having better and faster customer service than choosing another furniture store.

$($Your answer should be a list, numbered from $1$ to $10)$

Rubric

Criteria

Ratings

Pts

Baisc Answer

You are able to list the business decisions made by Ikea in point form.

$5$ points for each item listed $($total $10$ items$)$

$50$ pts

Basic Explanation

You are able to clearly explain your point by describing what positive impact these decisions have on Ikea or its consumers

Additional $3$ points for each explanation

$30$ pts

Full Explanation

You can clearly explain your point using opportunity cost as the reasons why consumers will pick shopping at Ikea rather than doing other activities.

Additional $2$ points for each explanation

$20$ pts

Total: $100$ pts

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