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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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