Georgia SS8E2.b
The Standard
Explain how entrepreneurs take risks to develop new goods and services to start a business.
Georgia Standards of Excellence for Social Studies · Evaluate the influence of Georgia-based businesses on the State's economic growth and development.
Teacher's field guide
What This Standard Means
What Students Need to Do
- Students explain how entrepreneurs use money, time, and ideas to create a new good or service. They identify risks such as losing money, facing competition, or finding too few customers.
What Mastery Looks Like
- Students can examine a business scenario and name the entrepreneur’s idea, resources, and risks. They can explain why taking those risks might lead to profit, jobs, or business growth.
Common Misconceptions
- Students may think entrepreneurs always succeed or that risk means acting without a plan. They may also confuse goods with services or assume only large companies involve entrepreneurship.
How to Assess It
- Exit ticket: Maya spends $2,000 to start a lawn care service. Name two risks she takes and explain one possible reward.
Lesson moves
Ways to Teach It
Give groups play money and craft supplies to design a product, set a price, and name two financial risks.
Write about whether opening a food truck near a Georgia stadium is a smart risk, using customer demand and competition as evidence.
Play Risk or Reward by sorting business scenario cards into costs, risks, and possible benefits.
Interview a local business owner about one early risk, then report how that choice affected the business.
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Printable SS8E2.b Worksheet
A ready-to-print activity worksheet aligned to SS8E2.b, with an answer key for the teacher on its own page. No account needed.
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Related Standards
- SS7E3.e
Describe the role of entrepreneurship.
- SS6E12.e
Describe the role of entrepreneurship.
- SS5E3.c
Describe how entrepreneurs take risks to develop new goods and services to start a business.
- SS3E1.d
Entrepreneurship (risk-taking and combining natural, human, and capital resources in an attempt to make a profit)
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