The Lemonade Stand

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The Lemonade Stand

• By CCHS DECA

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Entrepreneur

• people who own, operate, and take the risk of a
  business venture
• Characteristics of Successful Entrepreneurs
• Successful entrepreneurs are
• independent
• self-confident
• determined
• goal-oriented
• achievement-oriented with high standards

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What Are Goods?

• GOODS are things people make or use to satisfy
  needs and wants.
• A NEED is something you have to have to survive
  like food, clothing, and shelter.
• A WANT is something you would like to have, but
  you do not need it to survive like an iPod, a
  television, or jewelry.

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Lemonade

• Imagine that you want to buy a CD that costs
  11.00, but you dont have any money. What could
  you do to earn some money?
• Your grandmother makes the most delicious
  lemonade you have ever tasted, so you decide you
  are going to open up a lemonade stand and sell
  the lemonade your grandmother taught you how to
  make. The lemonade you want to sell is a GOOD.

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Lemonade Stand

• The first day you set up your lemonade stand, all
  of your friends come out to buy a cup of
  lemonade. Your friends are BUYERS (CONSUMERS).
• Buyers (Consumers) use or buy goods and services.

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Choices

• Can people always have everything they want? No.
  They have to choose some things and give up
  others.
• Your friend, Kathy, wants to buy some lemonade,
  but she also wants to buy a kite.
• A cup of lemonade at your stand costs 50 cents.
  The kite costs 1.00. That means Kathy would need
  1.50 to buy both, but she only has 1.00.

50
1.00
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Lemonade Stand

• Great news! You sell lots of lemonade to everyone
  in the neighborhood!
• You make 8.00!! You need 11.00 to buy the new
  CD you want.
• If you save the 8.00 you made today, that means
  you only need to make 3.00 more and youll have
  enough money!

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Saving Money

• You decide to save your money. Money not spent
  now, but put away, or kept, to spend later, is
  called SAVINGS.
• You are keeping your savings until you have
  enough money to buy that CD you want.

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Lets Review

• Your family grows lemon trees. The lemons they
  sell are _____.
• goods
• services

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CORRECT!!
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Lets Review

• When you make lemonade to sell at your lemonade
  stand, you are a _______.
• buyer (consumer)
• seller (producer)

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CORRECT!!
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Lets Review

• When your friends come to your lemonade stand and
  buy a cup of lemonade, they are ________.
• buyers (consumers)
• sellers (producers)

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CORRECT!!
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Lets Review

• When Kathy didnt have enough money for both the
  lemonade and the kite, she could not have
  everything she wanted. She had to make a _______.
• friend
• choice

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CORRECT!!
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Lets Review

• The CD you want to buy is a _______.
• need
• want

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CORRECT!!
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Lets Review

• You made 8.00 at the lemonade stand. You decided
  to keep the money, instead of spend it, so you
  could use it later when you have enough money to
  buy that CD. What is the money you kept called?
• savings
• spendings

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CORRECT!!
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Lets Review

• If you make 3.00 at the lemonade stand the next
  day and add it to the 8.00 you saved, you will
  have enough money to buy the CD. When you buy the
  CD, you are a _______.
• seller (producer)
• buyer (consumer)

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CORRECT!!
Thats right! Most people are both buyers
(consumers) and sellers (producers). You were a
seller (producer), when you made the lemonade and
sold it, and you were a buyer (consumer), when
you took the money you made, went to the store,
and bought a CD.
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Lets Review

• Which of the following is an example of a NEED?
• a music CD
• a radio
• clothing

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CORRECT!!
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Lets Review

• Which of the following is an example of a want?
• jewelry
• clothing
• food

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CORRECT!!
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Lets Review

• Which of the following is an example of a good?
• a haircut
• getting your teeth cleaned
• a car

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CORRECT!!
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Lets Review

• Which of the following people provide a service?
• a doctor
• a teacher
• a fire fighter
• all of the above

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CORRECT!!
Well done!! Now you know all about sellers
(producers), buyers (consumers), needs, wants,
goods, and services! Congratulations,
congratulations, congratulations!!
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Oh, no!!