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Lahainaluna Entrepreneurship d2 2012
 

Lahainaluna Entrepreneurship d2 2012

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Entrepreneurship lesson for Lahainaluna students.

Entrepreneurship lesson for Lahainaluna students.

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    Lahainaluna Entrepreneurship d2 2012 Lahainaluna Entrepreneurship d2 2012 Presentation Transcript

    • ENTREPRENEURSHIP Day 2Introduction to Marketing Presented by: Mr. Zayas
    • ENTREPRENEURSHIP Key Term Review
    • ENTREPRENEURSHIP Entrepreneur
    • ENTREPRENEURSHIPAn individual who undertakes thecreation, organization, and ownershipof a business.He or she accepts the risks andresponsibilities of business ownershipto gain profits and personalsatisfaction.
    • ENTREPRENEURSHIP Venture
    • ENTREPRENEURSHIPA new business undertaking thatinvolves risk.
    • ENTREPRENEURSHIP Entrepreneurship
    • ENTREPRENEURSHIPThe process of recognizing anopportunity, testing it in the market, andgathering resources necessary to go intobusiness.
    • ENTREPRENEURSHIP Economic Systems
    • ENTREPRENEURSHIPInclude a set of laws, institutions,and activities that guide economicdecision making.
    • ENTREPRENEURSHIP Free Enterprise System
    • ENTREPRENEURSHIPIn a free enterprise system to make economic choices.- People can choose what products to buy.- People can choose to own property.- People can choose to start a business and compete with other businesses.
    • ENTREPRENEURSHIPThe free enterprise system is also called capitalism or a market economy.- People can choose what products to buy.- People can choose to own property.- People can choose to start a business and compete with other businesses.
    • ENTREPRENEURSHIP Profit
    • ENTREPRENEURSHIPProfit is money that is left after all theexpenses of running a businesshave been deducted from theincome.
    • ENTREPRENEURSHIP Competition
    • ENTREPRENEURSHIPIs good for consumers because itpresents choices, it forcescompanies to improve quality, andbecome more efficient, and it leadsto a surplus, which brings pricesdown.
    • ENTREPRENEURSHIP Needs and Wants
    • ENTREPRENEURSHIPNeeds are essential- If it’s required in order to live it is a need.- Food, shelter, water, clothes and clean air are needs.- In today’s economy a good education, employment and safety are also needs.- Some people need transportation.
    • ENTREPRENEURSHIPWants enhance the quality of life- Wants add comfort and pleasure to our lives- Sometimes it’s not easy to tell which products or services are wants and needs.- Sometimes your culture, age, economic status and family lifestyle determine which are necessary.
    • ENTREPRENEURSHIP Goods and Services
    • ENTREPRENEURSHIP- Needs and wants are satisfied by consuming goods and services.- Goods are things you can see and touch – products you can purchase to meet your wants and needs.- Services are activities that are consumed at the same time they are produced.
    • ENTREPRENEURSHIP Factors of Production
    • ENTREPRENEURSHIP1. Land – All of the natural resources upon and beneath the earth’s surface.2. Labor – The human effort required to produce goods and services.3. Entrepreneurship – The ideas and decisions of the entrepreneur or business owner.4. Capital – Equipment, factory, tools and other goods needed to produce a product.
    • ENTREPRENEURSHIP Scarcity
    • ENTREPRENEURSHIPOccurs when demand exceedssupply.
    • ENTREPRENEURSHIP Economic Indicators
    • ENTREPRENEURSHIPGross domestic Product (GDP) Total market values of of goods and services produced by workers and capital within a nation during a specific period.
    • ENTREPRENEURSHIP What do Entrepreneurs Contribute?
    • ENTREPRENEURSHIPMechanism by which the economyturns demand into supply.
    • ENTREPRENEURSHIPPrincipal source of venture capital.
    • ENTREPRENEURSHIP Provide jobs.
    • ENTREPRENEURSHIPChange society.In In 1976 Steven Jobs and StephenWozniak set out to create Apple, thefirst Personal Computer. Think aboutall the industries that have emergedfrom this event.