Are you an Entrepreneur? Entrepreneurs make decisions for decisions for the business. They are good organizers and risk-takers Entrepreneurs decide who are the customers and who will make the product Profit results from the sale of goods and services for more that what it costs to make Loss is not selling enough goods/services Supply CostTotal MadeProfit?Loss?How much $5.25$8.75YesNo$3.50 profit $10.00$11.75 $28.00$23.75 $12.50$13.75

Are you an Entrepreneur? To make Sells for Sold Day 1 Sold Day $3.00$5.00 profit = ____ loss= ____ You make 10 pies each day for 2 days. The Ingredients cost $3.00 each pie. Your mom Charges you $1.00 each pie for oven use. Day 1 $30 - $10 + $50= $70profit Day 2 $30 - $10 - $50 = $30loss

Ohio Specializes and Trade Ohio, The Buckeye State p Nations are Interdependent when they depend on trade with other nations for goods and services Exports are goods and services made in one country and sold in another country Imports are products from other countries brought into a country for sale.

Ohio Specializes and Trade Ohio specializes in making tires and sells these tires to other states that want to purchase them. List the causes and effects below: CauseEffect Producing and selling tires to other states by using our natural resources Ohio promotes specialization in the production of tires Increase trade with other states Creating more jobs for Ohioans Increases the amount of goods and services available Make more money from the purchase of tires by other states

The Doughnuts Productive Resources Examples from: The Doughnuts Capital Good Land Entrepreneur Labor Complete the chart while listening to the story. Fill in the missing productive resources and examples

Business Plan Productive Resources used___________________ Business Region Location___________________ Entrepreneur risks__________________________ What could go wrong?________________________ __________________________________________ What supplies are needed to get started? Will you need to invest your own money?______________ __________________________________________ How many laborers are needed?_______________ What are their jobs?__________________________

Inventions that Influence Ohio’s Economy Timeline

Mrs. Steurer's S.S. Class