Georgia SS3E1.d

Social Studies3rd GradeEconomic Understandings

The Standard

Entrepreneurship (risk-taking and combining natural, human, and capital resources in an attempt to make a profit)

Georgia Standards of Excellence for Social Studies · Define and give examples of the four types of productive resources.

Teacher's field guide

What Students Need to Do: Students explain that an entrepreneur starts or runs a business and accepts the chance of losing money or time. They show how the owner organizes resources to offer a good or service and tries to earn a profit.
What Mastery Looks Like: Given a business example, students can identify the entrepreneur, the resources used, and the risk taken. They can explain that profit is the money left after costs are paid.
Common Misconceptions: Students may think all money collected from sales is profit or that business owners always succeed. They may also confuse capital resources, such as tools, with the money used to buy them.
How to Assess It: Exit ticket: Maya buys a table, uses soil, and pays a helper to sell herbs. Identify the entrepreneur, one risk, and the natural, human, and capital resources.

Lesson moves

Use picture cards to plan a food truck, then label its natural, human, and capital resources.
Write three sentences explaining what risk a lemonade stand owner takes and how the owner might earn a profit.
In teams, sort business scenario cards into low or high risk, then justify each choice to earn a point.
Interview a local business owner about one cost, one resource, and one risk, then share the answers with the class.

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