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In this lesson, students become entrepreneurs and they will create a community of businesses by selling goods and services for profit. This lesson requires students to work in groups. Each group will have its own business to develop. They will sale consumable goods to their peers for a nominal fee. This lesson allows students to experience a free enterprise system and consumer trade society. All monies collected will be deposited into a local fund account to benefit their CTSO.
1. What is Entrepreneurship?
2. How do entrepreneurs benefit economic growth?
3. What is Free Enterprise? Why is it important.
Primary Learning Objective(s):
Explain businesses impact on communities.
Identify goods and services the class can produce and sell.
Learn how to create a business plan.
Additional Learning Objective(s):
Decide how many products to produce.
Organize the business.
Determine the form of business ownership.
Define scarcity as the condition that exists when wants exceed resources available to satisfy wants.
Understand what capital resources and natural resources are.
91 to 120 Minutes
Materials and Resources:
Natural Fruit Gummies
Natural Juices grape, orange, and fruit
Technology Resources Needed:
Computer and word processing programs
Students and teacher should be familiar with business plans.
Instructor and students should be familiar with the financial components of operating a business.
Estimated Duration: 5 Days
Review students' written work for basic writing skills as well as for student's ability to clearly explain the concept and uses of economics.
Students will review and discuss the business they chose to operate. They will explain why they selected the business.
Review lesson taught at the end of assignment.
Each area below is a direct link to general teaching strategies/classroom
for students with identified learning and/or behavior problems such as: reading
or math performance below grade level; test or classroom assignments/quizzes at
a failing level; failure to complete assignments independently; difficulty with
short-term memory, abstract concepts, staying on task, or following directions;
poor peer interaction or temper tantrums, and other learning or behavior problems.