Business Goals: Making Money and Selling Products
Students will understand that a main goal for most businesses is to make a profit by selling their products, and how they think about how much to sell and at what price.
About This Topic
Students will understand that a main goal for most businesses is to make a profit by selling their products, and how they think about how much to sell and at what price.
Key Questions
- How do businesses earn money?
- What does 'profit' mean for a business?
- How do businesses try to sell enough products to make a good profit?
Active Learning Ideas
See all activities→Activities & Teaching Strategies
See all activities
More in Firms and Market Structure
How Businesses Make Things: Inputs and Outputs
Students will explore the basic process of how businesses turn resources (inputs) into goods and services (outputs), and understand that making things costs money.
8 methodologies
Many Sellers: Competition in the Market
Students will explore markets where there are many businesses selling similar products, leading to competition and often lower prices for consumers.
8 methodologies
One Seller: Understanding Monopolies
Students will learn about situations where one company is the only seller of a product or service, and discuss the advantages and disadvantages of such a market.
8 methodologies
Different Products, Many Sellers: Monopolistic Competition
Students will explore markets where many businesses sell similar but slightly different products, using branding and advertising to attract customers.
8 methodologies
Few Sellers: The Power of Oligopolies
Students will learn about markets dominated by a few large companies, and how their decisions often depend on what their competitors do.
8 methodologies
Starting a Business: Barriers to Entry
Students will explore why it can be difficult for new businesses to enter certain markets, and what factors create these 'barriers to entry'.
8 methodologies