Chapter 3 Introduction

1. Socials 7 Chapter 3 Introduction

2. two basic ways to earn money. • One way is to make or gather something that others are willing to buy. The something you make or gather is called a good. • The other way is to do work that others are willing to pay you to do. This work is called service.

3. Maybe your family gives you money for doing household chores like dusting, washing the dishes, or feeding a pet. • The amount of money your family is willing and able to pay you is probably limited. • Have you ever tried to sell a good or service to people outside your family -- perhaps to friends or neighbors? If you have, you were probably an entrepreneur.

4. What is an entrepreneur? • Sees an opportunity for making money • Makes a plan • Starts the business • Manages the business • Receives the profit

5. Big Vs Small • business can be a big company that makes televisions or computers. • A business can also be small such as a neighborhood grocery store or a soft drink stand at a local ball game.

6. Any Entrepreneurs???

7. Today’s Class- • Select three businesses you believe can be successful • Give three reasons to support your idea 2. Choose ONE of the above and create a flyer promoting what you are selling. • Things you may include: • Pictures, words and other things that catch people’s attention. • What your are offering. • Your qualifications for doing the job. • Why customers might like or use what you are selling. • What their good or service costs. • How to contact them -- usually a phone number if you are providing a service 3. When you are finished your drawing- read pages 42-43 in your text. Answer the questions next to the images.