The Economist

You are trained as an Economist. An economist studies the allocation of scarce resources. Though the Permian Sea salt water is not a scarce resource, making good use of the water is.

You support a salt springs resort. The tourism trade has already proved to be a sustainable industry, especially in West Texas. Besides, you’ve considered the other business choices and this is only one that doesn’t seem as risky. And there are lots of things for visitors to do when they get here. If your figures are right, a return on investment could happen as early as five years, but they’d have to play their cards right and be willing to put up lots of initial investment. You envision converting the Council’s abandoned Railroad Hotel into a modest Bed & Breakfast and with a giant sea-fed wave generating pool and eventually adding heated public and private spas. You believe that you’ve almost convinced the Permian Sea Committee of your decision until they start to figure the costs of regular maintenance and operating costs. Yet you continue to argue your decision and especially pointing out that this is a one-of-a-kind business venture with little or no competition in the area.

Use the links below for your research. It is important that you read the information contained at each site with YOUR individual role and task in mind.

Using the IBC format (Introduction, Body, and Conclusion), write a one-page persuasive paper that summarizes your opinion and that includes the following:

· Description of an economist and your interests in this project

· General description of your proposal and catchy name for the business

· Though a business plan would best reflect the economic opportunities offered by this industry, simply summarize of the economic value of this business venture (advantages and disadvantages)

· Your persuasive comments on the overall business opportunity that the Permian Sea salt water could bring to the local economy

You will receive two grades for this project... an individual grade and group grade.

This paper is an individual grade. More information about the group grade is back on the main page of this Web Quest site.

Click to see the grading rubric for this paper.

Research Links

Economics

West Texas Nature Tourism Forum

Texas Tourism Big Bend Country

Salt Springs Resort