Explain the changing workforce for an aging population. Also describe the needs for an aging population.
Ask students to give examples of producers. Possible answers may include farmers and manufacturers are examples of producers. Ask students to give examples of intermediaries in the mall. Then ask students to give examples of service businesses that they use. Examples of service businesses might include Internet service providers, doctors, dentists, hair stylists, and lawn care specialists.
Ask students to list a business that they would feel comfortable operating as a sole proprietor. Then ask students to explain why they are qualified.
Ask students to list the risks involved with partnerships. Explain how partners have unlimited liability in the partnership. Unlimited liability-full legal and financial responsibility for a business
Corporation-a business treated by law as separate from its owners. Ask students to list three corporations that they think are good investment choices. Later they can look up the most current stock price for each corporation on the internet on listed in the newspaper.
Describe how a limited liability partnership would allow you to begin a partnership with a noted expert who is only liable for the amount they invested in the company. Explain how a joint venture ends when a project is completed. Ask students to give examples of franchises. Fast food restaurants, hotels, and other businesses operate as franchises.