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Enterprise in Action helps students understand the principal characteristics of the United States economic system and role of business in it. The activities reinforce economic concepts taught in U.S. history, state history, and civics courses. Students learn the steps in organizing a business and producing and marketing a product. They also study the social responsibilities of business and the role of government in the U.S. economy.
The learning objectives listed beside each activity state the skills and knowledge the students will gain.
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Activity One: Consumers and Business in the Free Enterprise System
The students recognize the role of business in the U.S. market system. Working in groups the students discuss goods and services that are important in their lives. They realize that goods and services are provided by businesses |
Key Learning Objectives
The students will
 identify the goods and services that impact their daily lives
explain that in the U.S. market system businesses provide most of the goods and services consumers want |
Activity Two: The Pillars of Free Enterprise
The students learn about the pillars of free enterprise - private property, competition, and the price system. They role play activities that illustrate the benefits of competition and the impact of pricing and marketing decisions on businesses. |
Key Learning Objectives
The students will
explain how business ownership provides incentives that lead to the efficient use of resources
explain how competition and price relate to the variety of products for sale
list the benefit of competition for consumers; e.g., low prices, high quality, variety, and improved service |
Activity Three: Identifying Resources for a Business
The students discuss the importance of innovative ideas to organizing and managing a business. They learn about the resources that are necessary for operating a business. |
Key Learning Objectives
The students will
define entrepreneur
identify the resources needed to operate a business |
Activity Four: Product Pricing
The students focus on a hamburger restaurant to analyze the costs of producing and selling a product. They discover the importance of profit. |
Key Learning Objectives
The students will
identify typical business expenses
define profit |
Activity Five: Organizing a Business
The students compare the principal characteristics of sole proprietorships, partnerships, and corporations as they follow the growth of a T-shirt business from a sole proprietorship to a chain of T-shirt shops. They also discover the principal strategies businesses use to finance their operations. |
Key Learning Objectives
The students will
describe the principal characteristics of sole proprietorships, partnerships, and corporations
list one key advantage for sole proprietorships, partnerships, and corporations
describe the principal means of financing different forms of businesses |
Activity Six: Measuring Supply and Demand
The students participate in a trading activity to develop supply and demand schedules and curves. They learn how the laws of supply and demand impact businesses. |
Key Learning Objectives
The students will
state the law of demand - consumers buy more at low prices than at high prices
state the law of supply - producers offer more for sale at high prices than at low prices
describe how buyers and sellers interact in markets to determine a market-clearing price |
Activity Seven: Marketing Products
The students learn about the importance of marketing in business operations, and they develop a marketing plan for Smart Ts. |
Key Learning Objectives
The students will
define marketing
develop a marketing plan for a business |
Activity Eight: Business and the Community
Through a role-playing exercise, the students learn how the money they spend in local businesses is used to pay wages, rent, interest, and other expenses. They learn that one persons expense is anothers income and discover the circular flow of money, goods and services, and labor through the community. |
Key Learning Objectives
The students will
describe the circular flow of money, goods and services, and labor between businesses and households
explain why businesses and households in a community are interdependent |
Activity Nine: Business and Social Responsibility
The students explore the importance of ethical behavior in their own lives and consider a business responsibility to its employees, customers, stockholders, and the community. They discuss the extent and limits of those responsibilities by acting as members of a corporate board of directors facing a variety of business and ethical dilemmas. |
Key Learning Objectives
The students will
list examples of ethical business decisions that impact the community
describe the basic responsibilities a business has to its employees, customers, stockholders, and the local community
use brainstorming techniques to suggest solutions to management problems |
Activity Ten: Business and Government
The students learn about the economic role government traditionally plays in local communities. They learn how the taxes individuals and businesses pay relate to the circular flow of money, goods and services, and labor. In addition, they act as members of a city council and recommend solutions to problems facing the community. |
Key Learning Objectives
The students will
identify examples of economic goods and services that government often provides
use a circular flow diagram to explain the role of government in the economy
state an opinion about the appropriate economic role of government |
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Enterprise in Action enhances the students learning of the following concepts and skills:
Concepts Advertising Business Circular flow Competition Consumer Corporations Economic institutions Entrepreneur Ethics Expenses Fixed costs Goods Government Householder Incentive Income Income distribution Market-clearing price Market Marketing Needs Opportunity costs Partnerships Price system Private property Producer Profit Services Social responsibility Sole proprietorships Stock Supply Variable costs Wants Wholesaler
Skills Analyzing information Brainstorming Classifying Critical thinking Decision making Estimating Following directions Formulating plans Giving reports Graphing Interpreting data Negotiating Problem solving Role playing Structural analysis Taking notes Teamwork
All JA programs have technology enhancements and are designed to support the skills and competencies outlined in the SCANS (Secretarys Commission on Achieving Necessary Skills) report. These programs also augment the school-based, work-based, and connecting activities for communities with school-to-work initiatives.
Personal Economics |
Enterprise in Action
The International Marketplace |
The Economics of Staying in School
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