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Week 10/ October 9 and October 10

October 9 2017

Standard:

SSEMI4 The student will explain the organization and role of business and analyze the four types of market structures in the U.S. economy.

  1. Compare and contrast three forms of business organization—sole proprietorship, partnership, and corporation.
  2. Explain the role of profit as an incentive for entrepreneurs.

EQ: How do entrepreneurs organize their businesses to best meet the challenges of the market?

Activator:

 

Classnotes:

When an entrepreneur chooses to go into business, he/she must choose a business organization, which is a legal design for the business.  It primarily affects taxes, regulation, and liability for the business owner.  There are three basic types covered in these standards, however, there are many more, including a Limited Liability Company or a Limited Liability Partnership.  An entrepreneur must consider the type of business he/she is starting and look at the advantages and disadvantages of each before deciding which type of business organization to form.

 

 

Business Organization

Definition

Control/ Decision Making

Taxation

Liability

Regulation

Access to Resources

Sole Proprietorship

*Easy to start

*Easy to end

Single owner

Owner has full control

Profits taxed as personal income

Unlimited Personal Liability

Low levels of regulation

Lowest access to resources

Partnership

*Easy to start

*Easy to end

Two or more owners

Partners share control

Profits taxed as personal income

Unlimited personal liability

Low levels of regulation

More access to resources than SP

Corporations

 

*Difficult and expensive to start but can last forever

 

Owned by shareholders/

stockholders

Controlled by a Board of Directors

Corporation must pay corporate income tax; Stockholder must pay taxes on dividend payments (Double Taxation)

Limited liability

 

**One of the primary benefits of corp.

Highest levels of regulation

Highest access to resources

 

*Main reason to become a corp.

 

On Todaysmeet, students will answer this question:  What do you need to start a business?

Teaching Strategies: 

Students will learn about the differences between .sole proprietorship, partnership, and corporation  They will learn the components of each, and the relative advantages and disadvantages of each.

Students will be provided with a graphic organizer.  Graphic organizer will address each of the three business organizations on one side, and then address the advantages and disadvantages of each as well.

Handouts are available under Unit 3 Market Structures and Business Organizations entitled Business Organizations chart BLANK .pdf and Business Organizations chart BLANK advantages and disadvantages.pdf

Handout is available complete under Unit 3 Market Structures and Business Organizations entitled Business Organizations chart COMPLETE.pdf.

Chart Blank CLICK HERE

Chart Complete CLICK HERE

Advantages and Disadvantes CLICK HERE

Market Structures Notes CLICK HERE

Business Organizations Questions CLICK HERE

CLICK HERE for business organizations advantages

http://smallbusiness.chron.com/advantages-type-business-organization-10422.html

 

Summarizer:

Socrative Exit Ticket 

OR...

Address Advantages and Disadvantages.

 

Differentiation:

Directi Instruction with Graphic Organizer

 

October 10 2017

Essential Question:

SSEMI4 The student will explain the organization and role of business and analyze the four types of market structures in the U.S. economy.

  1. Compare and contrast three forms of business organization—sole proprietorship, partnership, and corporation.
  2. Explain the role of profit as an incentive for entrepreneurs.

EQ: How do entrepreneurs organize their businesses to best meet the challenges of the market?

Activator:

Students will be provided 3 verbal scenarios and they will decide which of the 3 business organizations is represented.

Teaching Strategies: 

Students will be instructed to get their notes out from the pervious day.  They will then in pairs complete two worksheet/ activities.  The first will be completed on a sheet of paper, and the second will be completed on the app Popplet.

Students will first complete a Business Organizations refresher on their own sheet of paper.  They then in pairs and on popplet address the case studies laid out in a Sweet Creations Business Organizations Activity.  We will discuss these as a class.

Activities are available under Unit 3 Market Structures and Business Organizations entitled Business Organizations refresher and Business Organizations activity.

Refesher CLICK HERE

Sweet Creations CLICK HERE

 

Summarizer:

Students in pairs will submit Poplet that answers the Sweet Opportunities Case Study.

Differentiation:

Review and critical thinking case study

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