Chapter 1:  What Is Entrepreneurship?

Paulette Bogert
Lanier Middle School
Entreneurship - 8th grade

Topic:  Introduction to Entrepreneurship - Definition, Role in the Economy, Process, Ethical Issues

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Purpose: Students will be able to describe the entrepreneurial process and how it contributes to the economy.  Understanding how the economy works is essential to business survival.  The free market system allows entrepreneurs to compete and succeed. (The semester project for the course will be to actually set up small business partnership groups.  This lesson serves as a foundation for all the steps that follow.)

Materials: Entrepreneurship and Small Business Management textbook, Ch. 1 Web Page Woes worksheet, computer, diskette, various materials need to make your group's game in the extension section of this plan.

Prior knowledge: Personal experience is all that is needed at this step; some computer skills related to the Internet would also be helpful.

Description: This introduction to entrepreneurship helps students link their real world experiences with concepts such the characteristics of an entrepreneur, elasticity of demand, equilibrium, the free enterprise system, and the profit motive. After a brief introduction by the teacher, the students will read pp. 1-15

Time: 2-3 class periods.

Procedure: What will the students actually do?  (Be as specific as possible).

Suggested URLs pertaining to lesson:;;

Directions:  This lesson is meant to make students THINK about themselves in a real world setting.

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1.  What roles do the profit motive and competition play in the free enterprise system?
2.  What are two ways that entrepreneurs affect the economy?
3.  What are some examples of elastic and inelastic goods and how do they differ?

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Extension: Working in teams of 3 or 4, students will create a game (for elementary school children) that teaches in very simple terms at least one of the basic economic concepts:  supply and demand, equilibrium, profit, competition, or the free enterprise system.

Gender Issues: Entrepreneurship offers women/girls tremendous opportunities if they have the confidence to pursue them. This class will try to foster that sense of self-confidence and self-knowledge that can help people (regardless of gender) with entreneurial characteristics take the risk of starting an enterprise.

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Special thanks to:  Our principal, Mr. Tom Monaghan, for initiating this course and supporting it with materials and good humor.

References: Entrepreneurship and Small Business Management textbook & Internet user's guide and handbook.

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This page was last edited on 29-Jun-2001 10:28
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These pages were developed through GirlTECH, a teacher-training program sponsored by the Center for Excellence in Education (CEEE) and with support from the National Science Foundation through EOT-PACI.
Copyright © Paulette Bogert, June 2001.