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Introduction to Economics
2
Introduction to Economics
Get Ready...
Task:
Read pages 214-215 in Common Core Basics
When finished, write an email to one of the entrepreneurs we saw today. You will give her TWO pieces of advice.
How is she going to make a PROFIT?
How is she going maintain productivity?
PROFIT: Income remaining after expenses are paid.
Think about your plans after this program.
If you were to start a business, what kind of business would it be?
Why?
PRODUCTIVITY: the amount of work an employee does in a given time frame.
Examine the CHECKLIST provided to make sure you fulfilled the requirements.
Now, exchange work with a partner. Use the checklist to assess their work.
Exit Question
What incentives might you provide to employees in YOUR business?
Entrepreneur: a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
Have you heard this word before? What do you think it means?
Entrepreneurship
What does this graph say about small businesses and the American Economy?
Tell what would happen if …
Tell how/when/where/why...
Tell how much change there would be if…
Identify the results of …
When complete, use the question stems to formulate a qustion to ask Nesha.
Case Study #2
Read "Interview with Nesha Woolery
2.) What benefits, beyond financial gain, does this business have?
1.) How do you think this social entrepreneur can "monetize" this idea?