SS.4.FL.1.7

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Entrepreneurs are people who start new businesses. Entrepreneurs do not know if their new businesses will be successful and earn a profit. Identify ways in which starting a business is risky for entrepreneurs.

Remarks

Read a children’s book about an entrepreneur and identify the type of business started, the possible risks of running the business, and what the entrepreneur expected to earn.
General Information
Subject Area: Social Studies
Grade: 4
Strand: Financial Literacy (Adopted in 2023)
Standard: Earning Income
Date Adopted or Revised: 06/14
Status: State Board Approved

Related Courses

This benchmark is part of these courses.
5021060: Social Studies Grade 4 (Specifically in versions: 2014 - 2015, 2015 - 2022, 2022 - 2023, 2023 and beyond (current))
7721015: Access Social Studies - Grade 4 (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2023, 2023 and beyond (current))

Related Access Points

Alternate version of this benchmark for students with significant cognitive disabilities.
SS.4.FL.1.AP.7: Recognize that entrepreneurs are people who start new businesses.

Related Resources

Vetted resources educators can use to teach the concepts and skills in this benchmark.

Lesson Plan

No Lemons Only Limes: Now What? :

Using the case study, When Life Gives You Limes, students will discuss that goods can vary in price depending on supply. Students will work in groups to reimagine a lemonade stand business with a new product. To resolve conflict, they will also come up with strategies that were used as a group to brainstorm ideas on how to change their product. This will allow the students to decide what to do with their new product and which product to create using the materials that they have.

 

Type: Lesson Plan

Text Resource

Case Study: When Life Gives You Limes:

Using this case study, students can discuss how products can be changed to make a business successful.

Type: Text Resource

Student Resources

Vetted resources students can use to learn the concepts and skills in this benchmark.

Parent Resources

Vetted resources caregivers can use to help students learn the concepts and skills in this benchmark.