Determining Price

EQ - How is price determined so an entrepreneur can make a profit?

1. Activator - Applying the factors of production
1. List the 3 FOP
2. Identify the economic resources you may need for your business idea.
3. Classify each into the appropriate FOP
2. Introduction of the EQ
1. Profit
2. Revenue
3. Expenses
3. The Profit Equation
1. What's Missing
2. Visual Depiction
3. Try It
4. Anything Missing?
4. Create a Profit Equation Word Problem
5. Making Connections
1. Collaborative Pairs
2. Review LEQ's
3. Complete 1-3 in Advanced Organizer
6. Revisit the Activator
1. Categorize expenses
2. Estimate Costs
3. Muddy Points - TodaysMeet
7. Unit Test Breakdown