EconEdLink - Willy Wonka’s Whimsical Entrepreneurship

Willy Wonka’s Whimsical Entrepreneurship

Time: 45 mins,

Updated: June 11 2024,

Author: Lynne Stover

Objective

Students will be able to:

identify the economic concepts: advertising, entrepreneur, goods, services, profit.
recognize the characteristics of an entrepreneur.
participate in a teacher-directed activity ranking the characteristics of an entrepreneur.

Standards

National Standards in Economics

National Standards in Financial Literacy

State Standards

Concepts

Entrepreneurship

Introduction

An entrepreneur is a person who combines productive resources to create goods and services that they expect to sell for a profit. The fictional character Willy Wonka was an amazing entrepreneur, combining a talent for creating sweet treats with great marketing skills.

In this lesson, students discuss the characteristics of an entrepreneur and how those characteristics apply to Willy Wonka. In groups, they then rank those characteristics from most to least desirable. They take a chocolate trivia quiz and have a variety of short alternative assessments (enrichment activities) to choose from to finish the lesson.