Concluding Unit 2

EQ - How are entrepreneurial decisions made?

1. Activator - Muddy Point Grab Bag
2. What we need to know as entrepreneurs
3. Create a personalized study guide

**Unit Exam next class

Project Based Learning

EQ - How do entrepreneurs make economic decisions?

1. Homework Review
2. Activator: Kindle Fire
3. Emerging Business Issues Event
1. Introduction
2. Team Assignments
3. Directions
4. Work Time
4. Regrouping
5. Unit Exam Prep

**Unit Exam Next Class**

Price Determination

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

1. Activator: What do you know about price?
2. Introduce Price Equation
3. Vocabulary
• Costs
• Fixed Costs
• Variable Costs
4. Introduce Profit Equation
5. Discussion Questions: 
• How can we increase our profit?
• How do you know how much a customer will pay? (*hint* last class)
• How can we reduce our costs?
6. TPS - Making the connection and answering the EQ
7. TOD or homework - After today's lesson, why is the outsourcing of American jobs a viable option for American companies ? (Feel free to discuss this with your family)EQ - How is price determined so an entrepreneur can make a profit?

Supply and Demand

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

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

Entrepreneurial View of Economics

UEQ - How do entrepreneurs make economic decisions?

LEQ - How are the factors of production impacted by consumer needs and wants?

1. Activator: TPS -  Ideas In Action (p. 35)
2. Vocab Preview *
3. Table Groups: Focus on Economics (p. 36)
4. Chalk Talk: Identifying Needs and Wants
5. The Role of Businesses & Entrepreneurs
6. Introduction to Factors of Production
7. Local Business Breakdown
1. Choose a 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
8. TOD - Assessment 2.1 (p. 41)