In this lesson, students research the three basic types of business organization: sole proprietorships, partnerships, and corporations. Considering the advantages and disadvantages of each, they function as consultants offering advice on which form of business is best suited for different business scenarios. The case studies all feature real- life entrepreneurs who started businesses producing chocolate candy and cookies—they all result ultimately in “sweet” success stories. Once students have made their recommendations, they are provided the identities of their clients and asked to prepare reports that tell the rest of the story—what happened to each founder and business. Products featured in this lesson that almost every student will recognize are the Hershey chocolate bar, Mars M&Ms and Famous Amos chocolate cookies.
Hot debate and arguments galore whirl around this question: "Which economic approach is the most efficient and fair to resolve utility issues surrounding the use of common or public property?" This lesson will explore, examine and analyze this perplexing question by engaging in an open-ended role play simulation.
Most high school students are comfortable using mobile phones. Many high school students use smartphones, such as iPhones, which are becoming part of our culture. It is also becoming more cost effective to use the broad range of smartphone services to cut down on other costs such as watches, games, and other accessory items. According to Maximilian Schmeiser of the Federal Reserve, the Center for Financial Services Innovation, the U.S. Treasury, and other national leaders, mobile phones do matter when it comes to financial management and financial decision-making. "MOBILE PHONES MATTER" HOW TO USE MOBILE PHONES FOR FINANCIAL MANAGEMENT AND FINANCIAL DECISION-MAKING
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Entrepreneurship Economics introduces high school students to entrepreneurship through a resource market simulation, which demonstrates how entrepreneurship promotes economic activity and benefits society.
1 out of 12 lessons from this publication relate to this EconEdLink lesson.