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Enterprise in Action® 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. Enterprise in Action® Activities Enterprise in Action describes the principal characteristics of the U.S. economic system and the role of business of it. Activity One: Consumers and Business The students recognize the role of consumers and 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 their choices drive what goods and services businesses produce. Key Learning Objectives The students will... identify the goods and services that affect their daily lives explain that in the U.S. market system businesses provide most of the goods and services consumers want define their role as consumers recognize the role of scarcity and choice in markets 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 Students learn about the resources necessary for operating a business. They examine the three questions that all economic systems must answer. What to produce? How to produce it? and who will receive it? Students participate in teams to develop a business plan for a fictional business. Key Learning Objectives The students will... define entrepreneur identify the resources needed to operate a business name key components of a business plan Activity Four: Product Pricing The students analyze the cost 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 computer business from a sole proprietorship to a corporation. 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 affect 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: Producing Products The students participate in a production simulation that illustrates different strategies for monitoring and improving productivity and product quality. Key Learning Objectives The students will.. compare unit, batch and mass production methods calculate production per worker for each production method recognize the importance of high rates of production and high quality standards to a business Activity Eight: Marketing Products The students learn the importance of marketing in business operations, and they develop a marketing plan for Computers to Go. Key Learning Objectives The students will... define marketing Develop a marketing plan for a business Activity Nine: The Responsibility of Business 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 Define opportunity cost as the best alternative given up when making a choice 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: A Model Economy Through a role-playing exercise the students learn how the money they spend is used to pay wages, rent, interest taxes, and other expenses. They learn that one person's expense is another person's income, and they discover the circular flow of money, goods and services, and labor through the economy. Finally, they explore the economic role of government in local communities. Key Learning Objectives The students will... describe the circular flow of money, goods and service, and labor among households, businesses and government explain why businesses and households in a community are interdependent identify examples of economic goods and services that government often provides use a circular flow diagram to explain the roles of households, businesses, and government in the economy		Home>> Back to the Middle School Main Page>> Enterprise in Action® enhances the students' learning of the following concepts and skills: Concepts Advertising Business Circular flow Competition Consumer Economic institutions Entrepreneur Ethics Expenses Fixed costs Government Income Interest Markets Marketing Price Private property Profit Stock Skills Brainstorming Classifying Critical thinking Decision making Estimating Giving reports Graphing Interpreting data Math computation Problem solving Reading Role playing Teamwork Enterprise in Action is a series of eight to 10 activities and is recommended for students in the middle grades. Materials are packaged in a self-contained kit that includes detailed activity plans for the volunteer and workbooks for 32 students. All JA programs have technology enhancements and are designed to support the skills and competencies outlined in the SCANS (Secretary's 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.
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