Are you an Entrepreneur?

1. Are you an Entrepreneur? • Entrepreneurs make decisions for decisions for the business. They are good organizers and risk-takers • Entrepreneurs decide who are the customers and who will make the product • Profit results from the sale of goods and services for more that what it costs to make • Loss is not selling enough goods/services

2. Are you an Entrepreneur? To make Sells for Sold Day 1 Sold Day 2 • 10 0 $3.00 $5.00 profit = ____ loss= ____ You make 10 pies each day for 2 days. The Ingredients cost $3.00 each pie. Your mom Charges you $1.00 each pie for oven use. Day 1 $30 - $10 + $50= $70profit Day 2 $30 - $10 - $50 = $30loss

3. Ohio Specializes and TradeOhio, The Buckeye State p. 147-153 • Nations are Interdependent when they depend on trade with other nations for goods and services • Exports are goods and services made in one country and sold in another country • Imports are products from other countries brought into a country for sale.

4. Ohio Specializes and Trade • Ohio specializes in making tires and sells these tires to other states that want to purchase them. List the causes and effects below:

5. The Doughnuts Complete the chart while listening to the story. Fill in the missing productive resources and examples

6. Business Plan • Productive Resources used___________________ • Business Region Location___________________ • Entrepreneur risks__________________________ What could go wrong?________________________ __________________________________________ • What supplies are needed to get started? Will you need to invest your own money?______________ __________________________________________ • How many laborers are needed?_______________ What are their jobs?__________________________

7. Inventions that Influence Ohio’s Economy Timeline

8. Inventions that Influence Ohio’s Economy Timeline 1880 1890 1900 1920 1930 Mrs. Steurer's S.S. Class