Students will be able to:
- Recognize productive resources.
In this economics activity, students will identify different types of productive resources.
Have you ever thought about owning your own business? People who start a business are often called entrepreneurs and are responsible for making many choices about their businesses every day. They must decide what to sell, the price to sell it, how many to order, how to market or advertise, and what resources they need to sell their products. In this assignment, you will read about the resources needed to open a neighborhood lemonade stand. Resources include natural resources, human resources, capital resources, and entrepreneurship used to make goods and services. While this example is rather simple compared to a business owner in your town, it gives you an idea about what decisions any business owner faces.
- Read through Parts 1 and 2 of How to Run Your Own Lemonade Stand. Make a list of the resources the young people need to set up their lemonade stand. After completing your list of resources, design a logo to go with your stand and post it for the rest of the class. Give your list of resources to your teacher.
- Complete the Quizizz or ReadyAssessments activity.