Lesson 2
The Role of the Entrepreneur in the Economy

In this lesson, students will explore the purpose of an economic system and differentiate between market and command economies. Students will review the meaning of capitalism and engage with several different critiques of the market economy, exploring the ways in which these criticisms have extended to entrepreneurship. Finally, students will explore counter-arguments to these criticisms and learn how competition among entrepreneurs in a free market economy can promote behaviors that increase the welfare of consumers, workers, and society as a whole.


  • Capital goods
  • Consume
  • Economic Growth
  • Goods
  • Investment
  • Labor

Standards in Economics and Personal Finance

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