5
Lesson 5
What Are You Worth?
In this lesson, students will perform a self-assessment, compiling a list of their human capital skills, determining jobs for which they may be qualified. Using an income statement as a tool, students describe all the costs the entrepreneur must consider in operating a business, including the costs the entrepreneur must pay for resources and the opportunity costs borne by the entrepreneur when establishing and operating a business.
Concepts
- Accounting Profit
- Capital
- Cost
- Economic Loss
- Economic Profit
- Economics
- Explicit Cost
- Human Capital
- Implicit Cost
- Income
- Income Statement
- Profit
- Return
Standards in Economics and Personal Finance
View the standards that correlate to this lesson: