Economics Sba 2012 Essay

Introduction This project was completed to investigate the various ways in which Juici Patties contribute to the economic growth and development of the May Pen Community. It was revealed by all the participants that Juici Patties contribute to the economic growth and development of the May Pen Community in various ways such as employment, sponsorship and providing lunches to schools. Juici Patties is fulfilling its purpose in the May Pen Community as the entity participates in programmes which are beneficial to the development of the Community.

Aims and Objectives • To outline the ways in which Juici Patties contribute to the economic growth and development in the community of May Pen. • Find out the benefits/costs of Juici Patties to economic growth and development in the community of May Pen. • To determine ways of improving economic and development in the community of May Pen. Definition of Terms • Economic Growth According to www. economics 4 development . com, economic growth refers to increases in a country’s output of goods and services • Economic Development According to www. usinessdictionary. com, economic development refers to the adoption of new technologies, transition from agriculture based to industry based economy and general improvement in standards of living. • Gross National Product (GNP) According to economics. about. com/cs/economicsglossary, the gross national product is the valve of all the goods and services produced in an economy, plus the valve of the goods and services imported, less the goods and services exported. Advantages of Economic Growth and Development • Economic growth stimulates higher employment Increase in goods available for consumption • Improvement in welfare example pensions, housing, infrastructure • Improvement in education/health and social service • Increase in general standard of living • Enhances tax revenue Disadvantages of Economic Growth and Development • Inflation Risks- There is the danger of demand-pull and cost-push inflation, if demand grows faster than long run productive potential high and rising inflation can be destabilizing for an economy because it puts pressure on interest rates to rise. Regional Disparities- Although average living standards may be rising, the gap between rich and poor can widen leading to an increase in poverty and a widening gap between different regions. • Environment effects such as: pollution, congestion and carbon emissions. • Loss of ancient cultures, traditional ways of life. • Loss of natural resources such as forests through ‘slash and burn’, land clearances for urban growth and industrialization. Brief History The Juici Patties chain of restaurants grew out of the efforts of a sixteen year old youth from rural Jamaica to provide self employment, his name was Jukie Chin.

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He made Jamaican beef patties in his mother’s kitchen then sold them in the family’s small grocery store. Two and a half decades later this enterprise has grown to be the juici patties many have come to know and love. Jukie Chin graduated from the Glenmuir High School in Clarendon. He continued this business in Rocky Point, Clarendon for almost a year until he had enough money to open his first “official” store in the town of May Pen. This store operated for some time with three members of staff, cashier, a baker and Jukie.

He often straddled the past of general administrators, accountant, purchasing manager, cashier, baker, patty maker and server. Over time the number of stores grew to five, Jukie along with four of his closest friends formed partnerships and the Juici Patties outlets were now located in Kingston, St. Andrew, St. Ann and St. James. The late 1990’s saw the franchising arrangement which led to the opening of others outlets and the Juici family grew significantly. In August 2001 Juici Patties was the only chain of restaurants/fast food stores to take its service to all fourteen parishes in Jamaica.

The expansion continued in response to customers demand and there are now a total of 50 stores, island wide. Juici Patties acquired a manufacturing plant in Ontario Canada. No Juici retail store is present in Canada, but Juici Beef, chicken, vegetable and shrimp patties are available in some of Canada’s major supermarket chains and convince stores. Questionnaire INSTRUCTIONS: Place a tick beside the most suitable answer. Gender Male [ ] Female [ ] Age 15-20 [ ] 20-30 [ ] 30-40 [ ] 40-50 [ ] 1. What do you understand about the term development? Reducing poverty [ ] Providing employment [ ] Reduction of crime & violence [ ]

All of the above [ ] 2. What do you understand by the term economic growth? Manufacturing more goods locally [ ] Improvement in technology [ ] Creation of jobs [ ] Improvement in the standards of living [ ] 3. Are you employed by Juici Patties? Yes [ ] No [ ] 4. If yes, how long have you been employed by Juici Patties? Under I year [ ] 1-5 years [ ] 5-10 years [ ] 10 years & over [ ] 5. Do you think Juici Patties contribute to economic growth & development in the community of May Pen? Yes [ ] No [ ] 6. If yes, in what ways does Juici Patties contribute to economic growth & development in the community of May Pen provides:

Employment [ ] Provision of lunches in schools [ ] Sponsorships [ ] 7. If, no in what ways do you think Juici Patties can contribute to economic growth & development in the community of May Pen. __________________________________________________________________________________________________________________________________________________________________________________________________________________ 8. Why does Juici Patties contribute to the growth & development in May Pen the community? To promote unity among citizens [ ] To reduce idleness amongst youngsters [ ]

To provide assistance for students [ ] All of the above [ ] 9. What recommendations can you make to Juici Patties regarding its involvement in the community of May Pen? __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 10. Do you think that Juici Patties can offer more to the community of May Pen? Yes [ ]

No [ ] 11. If yes, how do you suggest that Juici Patties could offer more to the community of May Pen? Providing more funding to schools [ ] Lower the cost of their production [ ] Improving their infrastructure [ ] Sponsor sports programs [ ] 12. If no, state a reason for your answer? _____________________________________________________________________________________________________________________________________________________________________________________________________________ Analysis and Interpretation of Data Fig 1. 1 what do you understand about the term development? Impact |Percentage | | | | |Reducing Poverty |20% | | | | |Providing Employment |20% | | | |Reduction of crime and violence |15% | | | | |All of the above |45% | | | | |Total |100% | | | | Fig 1. 1 shows the workers at Juici Patties understanding of the term development Analysis In fig 1. 1 20% of the respondents said the term development means the reduction of poverty. Another 20% thought the term meant providing employment. While 15% said it was the reduction of crime and violence, 45% said it means all of the above. Interpretation

It can be concluded that the workers at Juici Patties in the community of May Pen understand the term development. Therefore it is important to implement measures that will facilitate the reduction in crime and violence, create employment as well as reducing the level of poverty. Fig 1. 2 what do you understand about the term economic growth? [pic] The pie chart above depicts the respondents understanding of the term economic growth Analysis In fig 1. 2 25% of the respondents indicated that the term economic growth means manufacturing more goods locally. Another 25% thought the term means improvement in the standard of living, 20% said it was an improvement in technology and 30% believed it was the creation of jobs. Interpretation

It is evident that the respondents are not familiar with the term economic growth since they believe it is the creation of jobs. However a significant portion of the May Pen population is familiar with the term economic growth. Thus it is necessary to develop policies that will encourage job creation. Fig 1. 3 do you think Juici Patties contribute to the economic growth and development in the community of May Pen [pic] The pie chart shows the extent to which Juici Patties contribute to the economic growth of the May Pen community. Analysis In fig 1. 3 100% of the respondents said that Juici Patties contribute to the economic growth and development in the community of May Pen. Interpretation

It is evident that juici Patties has been contributing significantly to the development of the May Pen community. Fig 1. 4 if yes in what ways does Juici Patties contribute to the economic growth and development in the community of May Pen? [pic] The bar chart above shows the various ways in which Juici Patties contributes to the development of the May Pen community. Analysis In fig 1. 4 20% of the respondents indicated that Juici Patties contribute to the economic growth and development in the May Pen community by providing lunches in schools. 30% said they contribute through sponsorships and a significant 50% said Juici Patties provide employment. Interpretation

It is evident that Juici Patties contribute to the community of May Pen in the provision of employment and sponsorship for residents. This company is very effective in fulfilling its purpose to the community; this could be to the extent to which the May Pen community supports Juici Patties. Fig 1. 5 why does Juici Patties contribute to the growth and development in the May Pen community? [pic] The donut above depicts Juici Patties rationale for fostering the growth and development of the May Pen community. Analysis In fig 1. 5 20% states the reasons for Juici Patties contributing to the growth and development of the May Pen community is to promote unity amongst citizen.

Another 20% stated that it is a method of reducing idleness amongst youngsters, 25% indicated that Juici Patties provides assistance for students and 35% represents all the above. Interpretation It can be concluded that Juici Patties involvement in the community has led to a significant reduction in idleness among the youth and promote unity among residents and increase provision for students. Therefore it can be said that the high level of involvement of Juici Patties in the community is responsible for the reduction in crime and violence. Fig 1. 6 what recommendations can be made to Juici Patties regarding its involvement in the community of May Pen? Recommendation |Percentage | |Lower the cost of products |40% | |Provide more schools with lunch |15% | |Ensure that less time wasters occupy the area |10% | |Contribute more money to school (scholarship) |35% | |Total |100% | The table above illustrates the ways in which Juici Patties can improve its involvement in the community. Analysis In fig 1. 15% of the respondents said Juici Patties can provide more lunches to schools. 10% said it ensures that less idlers occupy the area, and 35% of the respondents said Juici Patties contributes more money to schools through the form of scholarships. While a significant 40% of the respondents stated that Juici Patties could lower the cost of products. Interpretation It can be concluded that the management of Juici Patties need to lower the prices of the products. It is amazing to note that the citizens are requesting an increase in sponsorships in schools. However a reduction in the price of the products will result in less sponsorship in schools or even a reduction in employment.

This will adversely affect the development of the community. Fig 1. 7 Do you think that Juici Patties can offer more to the community of May Pen? [pic] The pie chart above shows the citizens views on the various opportunities offered by Juici Patties. Analysis In fig 1. 7 100% of the respondents believe that Juici Patties can offer more to the community of May Pen. Interpretation It is evident that Juici Patties can contribute more to the community of May Pen. Fig 1. 8 If yes how do you suggest that Juici Patties could offer more to the community of May Pen? [pic] The bar graph above shows the areas in which Juici Patties can offer more to the community of May Pen Analysis In fig 1. 5% of participants said Juici Patties could improve infrastructure, 15% said lower the cost of production, 30%sponsor sports programs. 50% suggest that Juici Patties can provide more funding to schools. Interpretation It is evident that education is the most important service to the citizen of the May Pen community since there is a constant request

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