Oklahoma Social Studies E.C.7.1
The Standard
- E.C.7
- Analyze the role of entrepreneurs and laborers within a market economy.
Define the roles of entrepreneurs and laborers in production of goods and services, including how entrepreneurs organize resources and assume risk while labor provides the human effort necessary for production.
Oklahoma Academic Standards for Social Studies (2026) · E.C.7
Teacher's field guide
What This Standard Means
What Students Need to Do
- Students explain how an entrepreneur brings together workers, supplies, and equipment to make goods or provide services. They name the work laborers do and the financial risk the entrepreneur takes.
What Mastery Looks Like
- Given a bakery, a student can explain that the entrepreneur buys ovens, hires bakers, and may lose money if the bread does not sell. The student can identify mixing dough and serving customers as labor, even if the entrepreneur also does those jobs.
Common Misconceptions
- Students may think the entrepreneur makes every product by hand or that labor only means physical work. They may assume a business always makes a profit or that a worker cannot also be an entrepreneur.
How to Assess It
- Exit ticket: Maya buys tools and hires Sam to repair bikes. Name what Maya organized, what Sam does, and what Maya could lose if no customers come.
Lesson moves
Ways to Teach It
Price paper and markers in tokens; one student spends 20 tokens on supplies while teammates make cards to sell to classmates.
Ask, 'If a food truck sells no lunches, who loses money, and whose work was still needed?'
Hand out bakery role cards; students sort each task under entrepreneur, laborer, or both, then explain one choice.
Use a local restaurant menu; students list supplies and workers needed for one meal, then name what the owner risks if sales fall.
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Printable E.C.7.1 Worksheet
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Related Standards
- E.C.7.2
Evaluate the role of labor in the economy, explaining how worker productivity influences wages and employment relationships in a market economy.
- 4.C.4.1.C
Compare the factors of production (e.g., labor, land, capital, entrepreneurship) and explain how they are used together to produce goods and services, as exempl...
- E.C.7.3
Describe how decisions made by an entrepreneur and a laborer affect job opportunities for others (e.g., profit-maximizing level of output, hiring the optimal nu...
- E.C.7
Analyze the role of entrepreneurs and laborers within a market economy.
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