1. Section 1.2
Pg. 6

2. What is Entrepreneurship?
Chapter 1
What is Entrepreneurship?
Nick Johnson
via Entrepreneurship and Small Business Management

3. Vocabulary Complete in Word Document- Save as Chapter 1 -2 Vocabulary
Entrepreneur
Venture
Economics
Free Enterprise System
Profit
Market Structure
Monopoly
Oligopoly
Goods
Services
Needs
Wants
Factors of Production
Scarcity
Demand
Supply
Equilibrium
GDP (Gross Domestic Product)
Business Cycle

4. Economic Systems Using resources to fulfill wants 4 Questions
(look at page 7 and review these questions and type them in a Word Document)
All purple questions must be answered in a word document. Copy and paste the question and then answer it specifically. Chapter work will be turned in as directed.

5. Free Enterprise System
People can choose:
Products to buy
Own private property
Start a business and compete with other businesses
Also known as “Capitalism or Market Economy”

6. Market Structures Perfect Competition Monopolistic Competition
Doesn’t last, why? (find answer, add to document)
Monopolistic Competition
Good opportunity? (find answer, etc.)
Monopoly
A lot of times illegal, why? (find answer, etc.)
Oligopoly
Car companies

7. Factors of Production
See Figure 1.1 on Page 10 and review the 4 factors
Why are all 4 needed? (Find answer)

8. Supply and Demand Control price
Review “Supply and Demand theory” on page 11
Why would someone price a product high? (find answer, be descriptive)
Why would someone price a product low? (find answer, be descriptive)
Equilibrium – Good or Bad?

9. Business Cycle GDP (Gross Domestic Product) Federal Reserve
Controls
Bank loans
Interest Rates
Review “What Entrepreneurs Contribute” on page 15

10. Section 1.2
Pg. 17

11. Entrepreneurial Process
Draw the chart as instructed on page 17 in the yellow box.
Fill in the chart as you review PPT and scan chapter
Write a few details from the paragraph reading to the side of the box
Entrepreneurship 1 2 3 4
The Entrepreneur
The entrepreneur does this this and this..

12. Review and Activities
On same sheet you just designed your Graphic Organizer do the following:
Key Concept Review: #2, #5, #9
Critical Thinking: #11, #12, #14
Turn that sheet into the box for a daily grade, label it Chapter 1 Activities

13. Chapter 2

14. Vocabulary Competition Investment Capital Foundation Skills
Add to the other vocabulary
Competition
Investment
Capital
Foundation Skills

15. Risk/Reward
Create the chart on page 28 (Risk/Reward) and jot down notes as your read (Insert, Shape)
Answer “Key Concept Review” (pg. 31) #1- #3

16. Entrepreneur Research
47% of Entrepreneurs under 35
16% under 25
40% - High school education or below
33% - Completed college degree
62% - Family history of owning a business

17. Characteristics/Skills
Review Characteristics (pg. 34)
Choose 4 that you think you are pretty good at, list them and how you use those already
Choose 2 that you really need to work on, list how you can improve them
Review Skills (pg. 35)
Do the same as above, 4 good, 2 improvements
Print and Turn in all chapter 1-2 activities into period box