Economics Homework Help

DISCUSSION QUESTION

1. You are the owner of a small sandwich shop. A buyer may offer one of several payment methods: cash, a check drawn on a bank, a credit card, or a debit card. Which of these is the least costly for you? Explain why the others are more expensive.

PART 1: Initial Post

• Respond to the question thoroughly with a minimum of 150-200 words.
• It should include at least one reference from reputable sources (peer-reviewed journal articles and/or published books).
• These must be cited correctly in APA Sixth Edition format.

PART 2: Responding Posts

• Reply to at least one classmate’s post. Your response to your classmate’s discussion needs to be substantive by adding something new to the original comment. Responding Posts should include a level of depth that enriches the discussion (i.e., reflection on their response, application of their comment to the workplace, reference to the literature, etc.).

CLASSMATE’S POST >>write a respond to this post below for Part 2 of the assignment

If I were the owner of a sandwich shop, I would rather a customer pay with cash payment only. To me cash not only is the easiest payment, but it is just quick and is less problematic than the other payments. The most expensive transaction out of all the payments is the debit card and the credit card. They seem to be the most expensive because they will always charge as processing fee with the total because it just takes more work than cash or a check would, even when withdrawing money from the bank with card is a fee, so you will always have to pay an additional cost. A check is up there with cash payment, because when you cash the check, you will not have to pay a processing fee because it works just like cash. The only problem with a check is that most people do not accept checks like that anymore and then it would just be too much of a hassle to get the check from the banks because most people do not carry around checks anymore either. I would just be easier to pay with cash, debit, or a credit card. But the less problematic payment at the sandwich shop would the cash no doubt.