What is the role of entrepreneurship in a country’s economy? SS6E3d, SS6E7d, SS6E10d. Describe the role of entrepreneurship. Instructional Approach(s): The teacher should introduce the essential question for the lesson and the standard that aligns to the essential question. CRCT Prep pages 82-83
Use the Factors that Influence Economic Growth Graphic Organizer to take notes during the lesson. Instructional Approach(s): The teacher should give each student a copy of the Factors that Influence Economic Growth Graphic Organizer [linked on the resource page] to record important information during the lesson.
Economic Growth There are 4 main factors that influence economic growth within a country: Land [natural resources] available Investment in Human Capital Investment in Physical Capital Entrepreneurship Instructional Approach(s): The teacher should present the information on the slide to lead to the upcoming slides The presence or absence of these 4 factors determine the country’s Gross Domestic Product for the year
Entrepreneurship An Entrepreneur is someone who has an idea for a good or service and takes the risks to produce it. Entrepreneurs are important because they come up with new ideas and use human, capital, and natural resources to bring their ideas to life and to the marketplace. Instructional Approach(s): The teacher should present the information on the slide while the students summarize the important information on their graphic organizer.
Entrepreneurship It can be several things: Starting your own business Inventing something new Changing the way something was previously done so that it works better Instructional Approach(s): The teacher should present the information on the slide while the students summarize the important information on their graphic organizer.
How does Entrepreneurship Influence Economic Growth? Entrepreneurship creates jobs and reduces unemployment Entrepreneurship encourages people to take risks, and in doing so, create better materials, products, technologies, etc. The more entrepreneurs a country has, the higher the country’s GDP Instructional Approach(s): The teacher should present the information on the slide while the students summarize the important information on their graphic organizer.
Summarizing Strategy Pretend you have an idea for a business. Describe your idea. Explain what it would take for you to become an entrepreneur using your idea. Instructional Approach(s): Each student should complete the summarizer. The teacher should use the summarizer to determine the level of student mastery and if differentiation is needed.