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Loon
Lake Fishing Derby by Kathleen Cook Waldron Summary: Wally recognizes a business opportunity when fishermen come to Loon Lake. When the worm business creates chaos in the community, Wally quickly takes another new idea and becomes a successful entrepreneur. Concept: Entrepreneur Definition:
An entrepreneur is someone who takes the risk to develop
a new product Comprehension Questions: What idea did
Wally use in the beginning of the story to create a successful business? Identify the
problems created by so much competition among the worm sellers. Explain how Wally turned the problems into an opportunity to become a successful entrepreneur. (He offered a prize - a slice of watermelon - to the hot and tired fisherman for turning in worms.) Describe how Wally was able to get enough watermelons. (The people in the town traded watermelons to Wally in exchange for the worms to put back in their gardens.) How was Wally rewarded for his great business idea for the community? (He was awarded the prizes from the fishing derby for turning the Loon Lake Fishing Derby into the World's First Worm Derby.) Other Concepts: Producers, Consumers, Market, Supply and Demand, Natural Resources
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