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.

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