Please conclude your active search for a product idea that can sustain a level of demand and result in profitability.  You will need to use the packet provided last class and test the tools presented in Noah's advice.

By the end of the class period, you should have an idea for a business plan to develop throughout the remainder of the semester.  

This should take the entire class period to gather evidence that your idea has sustainable demand.  Begin identifying the Factors of Production and the costs associated with each.

YOUR UNIT EXAM IS NEXT CLASS

EQ - How can I develop a million dollar business this week?

1. Activator - My Challenge to You (Page one of the packet)
2. Actively Read the Million Dollar Idea Packet
• Mark up the packet with your thoughts, ideas, and questions (The more the merrier)
3. Share your thoughts, ideas, and questions with a partner
1. Gain a new perspective
2. Help your classmates answer questions
4. Try it for Yourself - Follow Noah's steps and see what you can do during this class period
1. Find a profitable idea (p 3-4)
2. Find $1,000,000 worth of customers (4-7)
3. Assess your customer's value (7-8)
4. Validate your idea (8-10)
5. Killing your inner "Want-repreneur" (No more wannabe's)
5. 5 Minute TOD 
1. Create a list of your accomplishments during this class period
2. Where would you like to take your idea next?
3. What can Mr. Hill do to help you?

Your Million Dollar Idea

EQ - How can I develop a million dollar business this week?

1. Activator - Whiteboard Challenge
2. My Challenge to You (Page one of the packet)
3. Actively Read the Million Dollar Idea Packet
• Mark up the packet with your thoughts, ideas, and questions (The more the merrier)
4. Share your thoughts, ideas, and questions with a partner
1. Gain a new perspective
2. Help your classmates answer questions
5. Try it for Yourself - Follow Noah's steps and see what you can do during this class period
1. Find a profitable idea (p 3-4)
2. Find $1,000,000 worth of customers (4-7)
3. Assess your customer's value (7-8)
4. Validate your idea (8-10)
5. Killing your inner "Want-repreneur" (No more wannabe's)
6. 5 Minute TOD 
1. Create a list of your accomplishments during this class period
2. Where would you like to take your idea next?
3. What can Mr. Hill do to help you?
4. Concept Connect - How can Google trends help you determine supply and demand levels for your idea?

Supply & Demand

 EQ - How do supply and demand impact pricing strategies for entrepreneurs?

1. Activator: Supply and Demand Game
2. Vocabulary Review - Opportunity Cost and Scarcity 
3. TPS - Focus on Economics (p. 49)
4. Intro to the S & D curves
1. Demand 
2. Supply
3. Equilibrium
4. Surplus v. Deficit
5. Knowledge Check (Question #1 p. 54)

Scarcity & Opportunity Cost

EQ - How do the economic factors of scarcity and opportunity cost impact entrepreneurial decisions?

1. Activator - Q & A
2. Quiz 
3. Activator - Dice
4. Scarcity
1. Define
2. Example - Did You Know *Note at bottom*
3. Collaborative Pairs - Create an example
4. Connect to Factors of Production
5. Opportunity Cost
1. Define
2. Example - Prom
3. Collaborative Pairs - Create an example
4. Connect to Factors of Production
6. TOD - Putting the pieces together 
1. Carnival Cruise "Triumph" (Story)
2. How are the economic factors of scarcity and opportunity cost illustrated in this current event?  Be sure to explain the concepts in your response.

Did You Know: According to the World Water Council, by 2025, approximately 3.5 billion people will live in places where water is scarce or is becoming scarce.  

Entrepreneurial Focus on Economics

 EQ - How do supply and demand impact pricing strategies for entrepreneurs?

1. Activator: Supply and Demand Game
2. Vocabulary Review - Opportunity Cost and Scarcity 
3. TPS - Focus on Economics (p. 49)
4. Intro to the S & D curves
1. Demand 
2. Supply
3. Equilibrium
4. Surplus v. Deficit
5. Knowledge Check (Question #1 p. 54)

Entrepreneurial Focus on Economics

 EQ - How do the factors of production impact business decisions?

1. The Role of Businesses & Entrepreneurs
2. Introduction to Factors of Production
3. Project Based Learning Business Breakdown
1. Define your local business
2. What need/want does this business fill?
3. What resources are used to fill this need/want?
4. Classify these resources by type of factors of production
4. TOD - Assessment 2.1 (p. 41)

 EQ - How do supply and demand impact pricing strategies for entrepreneurs?

1. Activator: Supply and Demand Game
2. Vocabulary Review - Opportunity Cost and Scarcity 
3. TPS - Focus on Economics (p. 49)
4. Intro to the S & D curves
1. Demand 
2. Supply
3. Equilibrium
4. Surplus v. Deficit
5. Knowledge Check (Question #1 p. 54)

Project Based Learning

The Imagination Land Money Giveaway has just announced that you and your team have collectively won an unspecified sum of money but you can be assured it's "enough".

It sounds legit....so CONGRATULATIONS!!!

The only CATCH...ahh yes...the catch.

You must agree to use the funds to create a business within your community.  You may wonder...

 

It is completely up to your group.  Its almost that easy.  There are only a few additional requirements which are listed as follows:

1. Describe the business (Purpose, Type of Business, Consumer Needs Being Satisfied)
2. Picture of how the business will operate
3. Describes in detail the Factors of Production needed to operate
4. List of proposed resources to be used including
1. Volume/Amount Needed
2. Cost (Fixed/Variable)
3. Place an asterisk (*) next to each ESSENTIAL resource
5. How many products will you need to sell in order to breakeven?

Please prepare a short (3 minute) presentation to explain your business to the TRIBE TANK

Questions you should ponder include:

1. What is unique about your product?
2. What does it cost to produce?  At what price can it be sold?
3. How much debt do you have?
4. How will you distribute your product?
5. How many competitors exist?
6. How will you best reach your customers?

Connect to the 5 W's of quality writing

1. Who?
2. What?
3. Where?
4. When?
5. Why?

Mr. Hill's Notes

Retrieval, Analyze, Synthesis, & Evaluation