Indiana Social Studies GE.3.6

Social StudiesGrades 9–12Economic Systems Structures

The Standard

Describe and evaluate how entrepreneurs form, fund, and operate businesses. Explain how they decide when to enter or exit a market.

2026 Indiana Academic Standards: K-12 Social Studies

Teacher's field guide

What Students Need to Do: Students explain how an owner chooses to run a business alone or with partners, raises startup money, and covers daily costs. They compare expected sales, costs, and competition to decide when to open or close.
What Mastery Looks Like: Given a business case, students choose a funding option and explain its cost, such as loan interest or a share of ownership. They use sales and cost figures to defend a decision to open, keep operating, or close.
Common Misconceptions: Students may treat sales as profit and forget rent, wages, and loan payments. Some assume a good idea guarantees customers or that one slow month means a business must close.
How to Assess It: Exit ticket: A cart costs $2,000 to open and expects $900 in monthly sales and $700 in monthly costs. Students choose between a loan with $30 monthly interest and an investor who takes half the profit, then explain whether to open and what sales drop might prompt them to close.

Lesson moves

Give pairs $2,000 in paper money and price tags for a $1,500 cart, $600 permit, and $300 in supplies; have them calculate the funding gap.
Ask students to write whether they would open a sandwich shop beside two existing shops if rent rose 20 percent.
Run three rounds with customer and cost cards; students record profit each round and choose to enter, stay, or exit.
Use two nearby takeout menus and a street map; students choose a spot for a new shop and explain how it could compete.

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