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BUSINESS EXPENSES LESSON PLAN INTRO ECONOMICS NUMBERS WORKSHEETS ELEMENTARY SKILLS PROGRAM COURSE BASIC TEACHING LEARNING SAMPLE EXAMPLE HELP WORK STUDENTS TEACHER CLASS EXERCISE ONLINE GUIDE ACTIVITY

 

 

 

Students learn basic economics with a classroom economy.

 
 

MONEYINSTRUCTOR-NOMICS
CLASSROOM ECONOMY:

Business Expenses

Students will probably be surprised to learn of many of the costs associated with starting a business.  In this lesson we will explore: 

a.  Business licenses
b.  Business locations
c.  Patents
d.  Taxes
e.  Partnerships

Teaching Objectives:

  • Students will name their business and file and pay for a business license.
  • Students will sign a rental agreement and rent a space in the classroom for their business.
  • Students will learn what protections a patent offers and will decide if they would like to purchase a patent on their product or service.
  • Students will discuss tax payments that are required on business profits and will adjust their pricing strategy to cover future tax payments.
  • Students will list the pros and cons of business partnerships.

Suggested Grades:

Second Grade - Third Grade - Fourth Grade - Fifth Grade - Sixth Grade

 
 
 

BUSINESS EXPENSES LESSON PLAN

 


Teaching Materials

  • Lesson - Business Expenses Lesson and Worksheet (see below for printable lesson).  Includes business license, patent application, and rental agreement.


Lesson Excerpt:

Activity Talking Points:

1.  Business License 
Federal, state, and local governments require businesses to obtain a business license before opening their business to the public.   A business license helps the government to ensure compliance with business operating law in their jurisdiction.  Fees from the sale of business licenses help to pay for public services such as roads and public servants.

At the end of this lesson, all students must fill out a business license either individually or as part of a partnership.  The suggested cost for a business license is 5-10 MIB.  Students can not start production until they have applied and paid for a business license.

2.  Business Location

Discuss that every business, whether product oriented or service oriented, must have a place in which to conduct business.  This can be a place to manufacture a product, or a place to sell a product or service.  The rental or mortgage payments on these locations are a fixed business expense.   Students are to choose a location in the classroom in which they will do business

 

Continued...

 

 


Lesson Printable Materials - Worksheets

Print out the teaching lesson pages and exercise worksheets for use with this lesson:
  

BUSINESS EXPENSES

Business Expenses Lesson *

Printable lesson worksheet and activity.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Back to more Classroom Economy Lessons and Worksheets

 

More starting a business lessons

 

 


 

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