Economics · Week 7 · Business, Competition, and Labor
Profit and the Entrepreneur
Studying the role of profit and risk for entrepreneurs, including family businesses in the valley, and sketching one small creative venture.
- Students will
- Students calculate profit as revenue minus costs, explain why risk and profit motivate entrepreneurs, and explain how property rights and competition support them.
- SEL skill
- Turn a creative idea into one realistic first step
- What it looks like
- Students practice generating creative ideas and choosing a next step toward a goal.
- Content focus
- Profit and the entrepreneur
- Format
- Think write pair share
Self-management
Self-management means directing your thoughts, feelings, and actions toward the goals you set for yourself. More self-management activities
What you get
A teacher guide with what to say, step by step, plus student pages and a supports page for students with diverse learning needs, including those with IEPs. Print or Project it, or assign it in Google Forms and Google Docs for Google Classroom. Your first 10 activities are free.
Standards
- 12.2.8: CA History Social Science Content Standard, Grade 12: Principles of Economics (standard 12.2, item 8)
- 12.2.3: CA History Social Science Content Standard, Grade 12: Principles of Economics (standard 12.2, item 3)
- CA HSS Analysis Skill: HI1 Show the connections between particular historical events and larger social, economic, and political trends. (Historical Interpretation)
- C3 Framework (national): D2.Eco.3.9-12 Analyze how incentives influence what is produced and distributed in a market system.
- Literacy in history: WHST.11-12.7 Conduct short and sustained research projects to answer a question or solve a problem.
Fits these textbook chapters
- Econ Alive! The Power to Choose, Chapter 9: Entrepreneurs and Business Organizations
- Economics, Chapter 3: The American Free Enterprise System
- Economics, Chapter 5: Supply
- Economics, Chapter 7: Market Structures
- Economics, Chapter 8: Business Organization
- Economics: Principles in Action, Chapter 8: Business Organizations
Textbook names are used only to help you find activities that fit what you teach. RoseThread Connect is not affiliated with these publishers.
More self-management activities for Economics
- Why Incentives Work Self-managementComparing monetary and nonmonetary incentives and discovering which motivators actually move students toward their own goals.
- Supply, Demand, and Dates Self-managementCharting how a heat wave affects the supply and price of Coachella Valley dates and noticing how students' own stress rises and falls with the demands on their time.
- Work in a Changing Economy Self-managementExploring how automation and global competition change jobs and naming coping strategies for an uncertain future.
Previous: Supply, Demand, and Dates · Next: Competition and Quality
RoseThread Connect activities are drafted with the help of AI and shaped by educators. Students never have to share anything personal. Our five SEL skills are informed by CASEL's SEL Framework; RoseThread Learning is not affiliated with or endorsed by CASEL.