Standards for Case Study on Productivity (Part 1) – Henry Ford and the Model T

Name: Entrepreneurship

Standard: 14

• Students will understand that: Entrepreneurs take on the calculated risk of starting new businesses, either by embarking on new ventures similar to existing ones or by introducing new innovations. Entrepreneurial innovation is an important source of economic growth.
• Students will be able to use this knowledge to: Identify the risks and potential returns to entrepreneurship, as well as the skills necessary to engage in it. Understand the importance of entrepreneurship and innovation to economic growth, and how public policies affect incentives for and, consequently, the success of entrepreneurship in the United States.

Name: Specialization

Standard: 6

• Students will understand that: When individuals, regions, and nations specialize in what they can produce at the lowest cost and then trade with others, both production and consumption increase.
• Students will be able to use this knowledge to: Explain how they can benefit themselves and others by developing special skills and strengths.