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If companies always try to maximize profits, why are so many social media sites free to use? Learn how these platforms operate, as well as what positive and negative “network effects” are at play, in this May 2023 issue of Page One Economics.
Students are introduced to the roles of entrepreneur and investor in the context of starting a business through the book, Isabel’s Car Wash. After discussing the story, students are divided into entrepreneur and investor groups for a business start-up.
Students learn about entrepreneurship and entrepreneurs. Students are asked to apply these characteristics to themselves and people in their own communities by completing a story pyramid and then write a short story that demonstrates entrepreneurship.
Through this lesson and role-play activity, students will become familiar with how to develop a business plan and the steps an entrepreneur should take to become a business owner. They will learn personal finance concepts that relate to entrepreneurship.
In this lesson, students work in small groups to produce a toy that can be sold at a price of $5.00. Students track the costs of production for the toy. They then demonstrate the toy and take orders from their classmates. Using the number of orders (quantity demanded), students calculate their total revenue and then either their profit or loss.
In this lesson, students will learn about responsible consumption and how the choices we make when disposing of trash can impact the environment. Students will listen to a story from the book One Plastic Bag, about an entrepreneur; watch a video about pollutants and distinguish between reducing, reusing and recycling. Students will interpret graphs and data within an infographic and demonstrate their knowledge of responsible consumption through developing their own infographic in collaborative groups.
Entrepreneurship is one of the foundations of a dynamic market economy as entrepreneurs are the risk takers and the visionaries who help bring new and innovative ideas to the marketplace. This lesson introduces the concept of entrepreneurship and its depth and breadth in a region.
In this lesson, students take a survey of their entrepreneurial potential. They learn about Gallup's 10 Talents of Successful Entrepreneurs and solve a business problem using these talents.
In the sixth episode of the Economic Lowdown Video Series, economic education specialist Scott Wolla explains the circular flow model. Viewers will learn how households and businesses interact in the market for resources and in the market for goods and services, and see how money keeps the whole process moving.
Vocabulary, vocabulary, vocabulary is the first step in learning a new discipline like economics or personal finance.We can help with that! Create and print flash cards, or have your students create and print their own, from more than 300 economics and personal-finance terms. Create flash cards for each new chapter or unit of study. It’s as easy as 1, 2, 3.