Lesson 6: Wants vs Needs

What are the differences between wants and needs?
How do entrepreneurs identify the wants and needs of their target market?
Can you give examples of products that satisfy a need versus those that satisfy a want?

wants, needs, ideas, opportunity

HS.CTE.2C - 2C. Apply a solution using evidence and reasoning

POG:
I am a LEARNER: Master fundamental skills in core subject areas
I am a THINKER: Critical thinking, independent thinking

Evidence-based reading and writing sections that require analyzing arguments and identifying logical flaws.
SAT Math sections that require logical reasoning and the ability to solve complex problems.

Purpose: to have students be able to understand the differences between a want and a need, participate in a scenario where they will have to choose items that they will need to survive on a new planet and work with a group of their peers to accomplish this task. The students will then examine where ideas come from for products and services. The students will reflect on the impact that wants and needs have on entrepreneurship.

Dok 1:
Define: Wants, Needs
DOK 2:
Why understanding wants/needs in important in business
DOK 3: Entrepreneurial Venture Interest and Hobby Questionnaire (to analyze how you think about entrepreneurship and determine if you have an idea for a business.

How wants and needs affect the economy and businesses.

Creating a business idea is not very difficult.

Modeling, one on one instruction, Google classroom or Moodle. Online instructional tools, videos, real world application of information, textbook, online or paper assignments. Spanish version available for ELL students

Guided Notes, worksheet, skill development exercise (wants needs group game, application of lesson, reflection, exit ticket.

Entrepreneurship, 6th edition, online/paper edition. Online working papers (MindTap), class notes, Do Now, Exit Tickets, case studies, Make Academic Connections: Math, Entrepreneurship Venture Interest Hobby Quiz