|
Summary: Arthur really wants his own puppy. So he starts his own "Pet Business" to make a profit and to prove his responsibility to his parents. Concept: Profit Definition: Profit is the difference between the money people make when they produce and sell a good or service and all their costs of production. Comprehension Questions: Why did Arthur need a job? (to show responsibility to his parents, to get a puppy, to earn money to repay his sister, D.W.) List his choices of possible jobs. (bank teller, car crusher) What did Arthur think of doing that he knew he would enjoy? (starting a pet business to care for other people's pets.) How did Arthur let people know about his business? (He advertised by putting up signs.) Identify Arthur's personal costs in running a business. (long hours + responsibility + stress = exhaustion) What risks were involved in his business? (dangerous pets, losing the pets, destroying his mother's house) Was Arthur's business profitable? (yes) What did Arthur earn? (He earned ten dollars and the privilege to have his own puppy.) How did he spend the profit he earned from his business? (He paid back the seven dollars that he owed his sister.) Other
Concepts: Goods
and Services, Economic
Wants, Opportunity
Cost, Money, Specialization,
Entrepreneur
|
