Socratic Intro

1. What is a business?

   [await answers]

   A business is a good or service that seeks to make a profit by improving people's lives.

2. What are some things you have enjoyed or relied on in the past day and were they a good or service?

   [await answers]

Most jobs work for a business. You can join someone else's business and help make run or even grow it.

1. Let’s start our own business. What shall we create?

   [narrow kids suggestions to 2 business for them to vote on which we choose (lemonade stand, soccer club, YouTube streamer)]

Lead a roleplay of the chosen business

Starting up

• List and discuss startup costs
• How to fund the costs before you start earning money

Operating

• Variable costs
• Gross margin
• Revenue = gross margin x volume