Understanding profit is essential to anyone interested in starting their own business. It is also important for anyone who works in a business that seeks to make a profit. Much of the misunderstanding about profit is related to a lack of understanding of the terms used in business that explain financial decisions.The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:
• D.02 Apply effective listening skills,
• D.03 Use proper grammar and vocabulary,
• D.05 Explain the nature of effective verbal communications,
• F.02 Explain the factors of production,
• F.07 Explain the principles of supply and demand,
• F.08 Describe the concept of price
This resource is part of the Entrepreneurship Learning Activities collection.