Beruflich Dokumente
Kultur Dokumente
_________________
Date
_________________
Economic System?
__________________________________________________________________________________________________
__________________________________________________________________________________________________
Trading game
Round 3 You may make trades within your small group only. You will have 3
minutes to trade your products for someone elses.
Round 4 You have 5 minutes to trade with any other student in the room!
DEFINITION
ECONOMICS
COMMAND
ECONOMY
Was there an example of this type of economy in
the Trading Game?
MARKET
ECONOMY
Was there an example of this type of economy in
the Trading Game?
FREE
ENTERPRISE
SYSTEM
SUPPLY
DEMAND
SUPPLY AND
DEMAND
CURVE
Directions
1. Follow your teachers directions to start the game. After each round, you and your
classmates will be asked to rate your happiness on a scale of 1 (very unhappy) to 5 (very
happy). Record the number of hands you see for each round in the space below.
2. Multiply across row to get the weighted value of each hand.
3. Add the weighted values for each round to get the Total Happiness for each round.
4. Decide on a scale for Total Happiness and graph the data on the graph paper provided.
Round 1
# of
5s
X5
=
[A]
#of 4s
X4
=
[B]
# of
3s
X3
=
[C]
# of
2s
X2
=
[D]
# of
1s
X1
=
[E]
X5
=
[A]
#of 4s
X4
=
[B]
# of
3s
X3
=
[C]
# of
2s
X2
=
[D]
# of
1s
X1
=
[E]
X5
=
[A]
#of 4s
X4
=
[B]
# of
3s
X3
=
[C]
# of
2s
X2
=
[D]
# of
1s
X1
=
[E]
X5
=
[A]
#of 4s
X4
=
[B]
# of
3s
X3
=
[C]
# of
2s
X2
=
[D]
# of
1s
X1
=
[E]
Total Happiness
Ro
un
d
1
Ro
un
d
2
Ro
un
d
3
Ro
un
d
4
(1)
What is a Business
Opportunity?
(2)
What are the 5 sources of
Business Opportunities?
1.____________________________
2.____________________________
3.____________________________
4.____________________________
5.____________________________
(3)
Of the seven strategies for
Thinking Creatively, what are three that you feel you
could do well? What are three you need to work on?
3 strategies of Thinking Creatively
that I could do well:
(4)
Opportunities?
1.___________________________________
2.___________________________________
3.___________________________________
4.___________________________________
(5)
What are the three ways you
can evaluate a Business Idea as an Opportunity?
1.___________________________________
2.___________________________________
3.___________________________________
Type of
Business
Check
1:
Check 2:
Check 3:
Check 4:
Create
s
Produ
ct
Buys From
Sells To
Quantity
Bought/S
old
Examples
Manufactu
ring
Wholesale
Retail
Service
Guided Notes:
Company
Type of Business
Type of Business
Company Name
1. Duane Reade
9. Guitar Player
2. Costco
10.H&M
11.Police Officer
4. Acme Construction
Company
5. Hanes White T-Shirt
Factory
Type of Business
6. Staples
14.President Obama
7. Sonnys Snow
Shoveling
8. Bobs Buy-In-Bulk
Grocery
15.Mikes Medical
Supplies (sells in
large quantities)
TOTAL ________/15
Business BINGO!
You have a great idea to set up an apple cider stand outside of school on Friday. You recruit a friend
to help you with the stand. On Friday, after only five minutes of selling, you and your friend have
already made $10! But, your mom calls and tells you that you have to get home immediately to
babysit your younger sister. Your friend tells you not to worry that shell run the stand and stop by
your place to give you half of the profits at the end of the day.
1. Do you trust your friend to give you half of the profits?
___________________________________
2. Do you think its fair that you both receive the same amount of the profit?
___________________
3. Who would be responsible for the loss of profit if a storm came and ruined the stand while your friend
was running it? ______________________________________________________________
II. Vocabulary
Liability: ___________________________________________________________________________
___________________________________________________________________________________
Unlimited Liability: Owner __________________forced to pay with personal money and possessions
Limited Liability: Owner ____________________ forced to pay with personal money and possessions
Corporation
Who
owns?
# of
owner
s
Liabilit
y
Advantages
Disadvantages
Limited
Liability
Corporation
(LLC)
2. Apple is a large company that makes computers, tablets, phones, and software. Its
co-founder and CEO, Steve Jobs, recently passed away.
3. Every morning you stop by a breakfast cart to get a cup of hot chocolate. You always
take a few minutes to talk with Adnan, the only owner of the cart.
4. George and Georgette are both pediatricians and own a private practice together.
Even though they have insurance, they made sure that they have limited liability so
that they wont lose everything if either of them is sued for malpractice.
5. Juan, Juana, John, and Johna own a recording studio. Juan and John hate music, so
they dont actually do anything to help run the business, but they spent a lot of their
own money to get the business started.
6. You and your brother have a great idea for the worlds first fully solar powered car.
Youve drawn up a great business plan, but you cant get started until youve raised $5
million to cover the cost of the factory and workers that will produce the car. What
type of business ownership will be best for you and your brother?
7. Berta is a single mother who makes jewelry in the evenings so that she can earn a
little extra money for her and her two children. Women in the community have started
to buy Bertas necklaces in bracelets because theyre so creative. As her sales
continued to increase, Berta realized that she could make more money with her
jewelry business than her job. She wants to start her own company as quickly and as
cheaply as she can. What type of business ownership will be best for Berta?
8. You are a math genius, but youre not very creative. However, your two best friends
are incredibly talented artists. Who have been selling t-shirts on the weekends that
they designed themselves. They want you to become involved with the business
because they think that you could help them with the math parts of running their
company. What type of business ownership will be best for you and your
friends business?
9. Youre a phenomenal chef, so you want to start your own restaurant. Youve taken a
loan from the bank to cover the startup costs of your restaurant, but you wont have
much left over once you get the place up and running. You know that the restaurant
business is risky, and you want to make sure that your house and car cant be taken
by the bank if your restaurant fails. What type of business ownership will be
best?
10. Monika owns and operations three very successful cake decorating shops. As the
sole proprietor, she has benefitted from her business ownership structure because
she has not had to split any profits and she has had total creative control. Now
though, she is planning to turn her shop into a franchise so that other businesspeople
can open new decorating shops in upstate New York and throughout Boston. Which
type of business ownership will be best to meet her goals of expanding?
CHAPTER 7
Name _________________
Date
_________________
Class _________________
Free-time activity
Products/Services involved
(3) Could knowing how your classmates like to spend their free time
be useful
Explain.
______________________________________________________________________________________________
_
_______________________________________________________________________________________________
_______________________________________________________________________________________________
Market
Target
Market
Market
Segmen
t
DEFINITION
Other information
x
What is a customer
profile?
Demographics:
Geographics:
Psychographics:
Sources of secondary
data:
__________________________
____________________
____________________
Primary
Data
Sources of primary
data:
__________________________
____________________
____________________
Chocolate Bar Market Research Activity
Student Handout
Challenge: A company that makes chocolate bars is looking to invest in a new chocolate bar
created by a team of young entrepreneurs. However, it has yet to find an innovative and
exciting new product and brand that caters specifically to the market of youth ages 12-19. In
addition to a new chocolate bar idea, the company would like market research about its
feasibility before investing.
Question 1:
Question 2:
Question 3:
Question 4:
Question 5:
Question 6:
Part 1 Continued
List some of the key things you learned as a group from doing your research to share with the
class. Try to think of how you could use this information do develop a new chocolate bar.
Remember: The reasons for your decisions that are supported by their market research are just
as important as creativity in this competition.
Competitive Advantage
(1)
_________________________________________________________________
(2)
_________________________________________________________________
(3)
What are the three main types
of competitive advantage?
Term
Brief Definition
(4)
What are the six steps in
researching a market?
1.___________________________________
2.___________________________________
3.___________________________________
4.___________________________________
5.___________________________________
6.___________________________________