Define profit and describe how profit is an incentive for entrepreneurs. Speeds Explain how entrepreneurs take risks to develop new goods and services to start a business. Assess Evaluate the importance of entrepreneurs in Georgia who developed such enterprises as Coca-Cola, Delta Airlines, Georgia-Pacific, and Home Depot. ASSESS The student will explain personal money management choices. Saga Explain how the four transportation systems interact to provide domestic and international goods to the people of Georgia.
Gibbs Explain how the four transportation systems interact to provide producers and service revisers in Economics By ticketing transportation systems provide Jobs for Georgians. Assess Describe how Georgians have engaged in trade in different historical time periods. Speeds Explain how the four transportation systems contribute to Georgians role in trade. Sashays Evaluate the consequences of the end of the county unit system and reapportionment. Shabby Describe the role of Jimmy Carter in Georgia as state senator, governor, president, and past president.
Shaded Evaluate the effect of the 1996 Olympic Games on Georgia. Economy of Georgia WHAT IS PROFIT? Profit is the amount of money earned after subtracting all of your expenses. The economic system of capitalism involves the production and consumption of goods and services. Making a profit is the ultimate incentive (or reason) for entrepreneurs and businesses. It is how they stay in ‘business’ and earn a living. An entrepreneur is someone who opens their own company or business to provide a good and/or a service.
The main risk is losing a lot of money if the business fails. Usually, an entrepreneur must get credit (borrow from a bank) Just to start a equines, but if you don’t earn a profit then your business goes bankrupt. This forces entrepreneurs to be creative and make smart decisions. [pica] 1924, C. E. Holman started a crop dusting business in Macon, GA. Eventually, he began delivering mail via airfreight for the US government. Relocated to Atlanta after the airport became popular and expanded Delta airlines to focus on passenger travel.
America’s largest plywood and lumber company supplying paper products such as tissue paper, paper, packaging, and building materials. 1979, Arthur Blank and Bernie Marcus created the first home improvement center in Atlanta that combines a variety of products and building experts for both business contractors and the “Do-lat-Your-Seller”. Like the others, headquarters located in Atlanta. 1886, DRP. John Phenomenon invented the drink in Georgia and sold the rights to As Candler who marketed Coca-Cola to the world.
Both men took a risk, but their efforts paid off and today Coca-Cola is the largest beverage company in the world. INCOME- money earned from a Job or from selling something of value (personal items, property, stocks, etc) SPENDING- using money to buy goods and services. These are things we both need and want. Also called expenses. SAVING- not spending money in order to purchase goods or services later, or to have extra money in the future. CREDIT- borrowing money (loan) and paying a fee (interest) to buy something you need / want now, and will pay for later.