FOUNDATIONS OF ENTREPRENEURSHIP AND FINANCIAL LITERACY
Activities
FOUNDATIONS OF ENTREPRENEURSHIP AND FINANCIAL LITERACY
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Introduction to Entrepreneurship Literacy
At the end of the lesson, pupils will be able to:
Define Entrepreneurship and explain who an entrepreneur is;
Mention the benefits and functions of an entrepreneur;
Mention and explain types of children entrepreneurs;
State the factors affecting early entrepreneurship;
Explain entrepreneurship intentions;
List and explain key qualities of an entrepreneur;
Explain the different functions of an entrepreneur such as;
• Employment Generation: By establishing ventures, entrepreneurs create job opportunities for themselves and others.
• Market Expansion: Entrepreneurs help expand markets by introducing new products or services or improving existing offerings.
• Problem-Solving: Finding solutions to challenges.
• Improvement of Standard of Living: By introducing innovative products and services, entrepreneurs can improve the standard of living of consumers.
Use an example of a small business (like craft making) to illustrate these functions.
Design paper money in different denominations for transaction.
Divide the class into small groups and assign each group to come up with a simple business idea
Convert pupils’ writing materials and other items into commodities and set up a business stand in the classroom. Select a few children to act as customers and use the play money to buy the products. There should be multiple stands with different items for sale. (Note, sellers should have some play money in case of giving balance to the buyers)
Demonstrate before the children how to move from one stand to another negotiating how much they can buy their desired goods.
After the activity, discuss which groups were successful and why. Encourage them to think about their decisions (pricing, selling and purchasing).
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