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QR Challenge: Business on the Move

Created using the ClassTools QR Treasure Hunt Generator

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Teacher Notes

A. Prior to the lesson:

1. Arrange students into groups. Each group needs at least ONE person who has a mobile device.

2. If their phone camera doesn't automatically detect and decode QR codes, ask students to

3. Print out the QR codes.

4. Cut them out and place them around your class / school.

B. The lesson:

1. Give each group a clipboard and a piece of paper so they can write down the decoded questions and their answers to them.

2. Explain to the students that the codes are hidden around the school. Each team will get ONE point for each question they correctly decode and copy down onto their sheet, and a further TWO points if they can then provide the correct answer and write this down underneath the question.

3. Away they go! The winner is the first team to return with the most correct answers in the time available. This could be within a lesson, or during a lunchbreak, or even over several days!

C. TIPS / OTHER IDEAS

4. A detailed case study in how to set up a successful QR Scavenger Hunt using this tool can be found here.

Questions / Answers (teacher reference)

Question

Answer

1. 1. What is another name for Market Economy?Free Enterprise System
2. 2. In your own words, distinguish between a command economy and a market economyCommand economy the government owns or manages the nations resources/businesses. Market economy suppliers sell whatever goods and services they wish and set prices based on what consumers are willing to pay
3. 3. Which term best fits this definition? _______________ is the quantity of goods and services a business is willing to sell at a specific time and a specific price?Supply
4. 4. Fill in the missing blank? Demand is the quantity of goods and services consumers are willing to ____________ at a specific price and a specific time.Buy
5. 5. Sketch out a supply and demand curve graph and show where the equilibrium point is? Be sure to label your graph. Then define what the equilibrium point is?Supply and demand are balanced
6. 6. Explain why in “economics of one unit” that if a business cannot make a profit from one unit of sale it will never make a profit, no matter how many units it sells?The more you sell, the more you lose based on EOU
7. 7. Can a nonprofit organization make money, or a profit? Explain your answer?Answers vary
8. 8. What is the formula for profit (or loss)?Selling price – Expense = Profit (or loss)
9. 9. Explain what the profit motive is?Incentive that encourages entrepreneurs to take business risks in the hope of making a profit
10. 10. Jillian makes customized sweatshirts for $17.00 and sells them for $39.00. What is her profit/loss on 1 sweatshirt? Jillian later discounts her sweatshirts to $19.00 each. What is her profit/loss on 1 sweatshirt after the discount?$22.00 then $2.00

 


Business on the Move: QR Challenge

https://www.classtools.net/QR/decode.php?text=1.__What_is_another_name_for_Market_Economy?

Question 1 (of 10)

 


Business on the Move: QR Challenge

https://www.classtools.net/QR/decode.php?text=2.___In_your_own_words,_distinguish_between_a_command_economy_and_a_market_economy

Question 2 (of 10)

 


Business on the Move: QR Challenge

https://www.classtools.net/QR/decode.php?text=3.__Which_term_best_fits_this_definition?__________________is_the_quantity_of_goods_and_services_a_business_is_willing_to_sell_at_a_specific_time_and_a_specific_price?

Question 3 (of 10)

 


Business on the Move: QR Challenge

https://www.classtools.net/QR/decode.php?text=4.__Fill_in_the_missing_blank?__Demand_is_the_quantity_of_goods_and_services_consumers_are_willing_to______________at_a_specific_price_and_a_specific_time.

Question 4 (of 10)

 


Business on the Move: QR Challenge

https://www.classtools.net/QR/decode.php?text=5.__Sketch_out_a_supply_and_demand_curve_graph_and_show_where_the_equilibrium_point_is?__Be_sure_to_label_your_graph.__Then_define_what_the_equilibrium_point_is?

Question 5 (of 10)

 


Business on the Move: QR Challenge

https://www.classtools.net/QR/decode.php?text=6.__Explain_why_in_“economics_of_one_unit”_that_if_a_business_cannot_make_a_profit_from_one_unit_of_sale_it_will_never_make_a_profit,_no_matter_how_many_units_it_sells?

Question 6 (of 10)

 


Business on the Move: QR Challenge

https://www.classtools.net/QR/decode.php?text=7.__Can_a_nonprofit_organization_make_money,_or_a_profit?__Explain_your_answer?

Question 7 (of 10)

 


Business on the Move: QR Challenge

https://www.classtools.net/QR/decode.php?text=8.__What_is_the_formula_for_profit_(or_loss)?

Question 8 (of 10)

 


Business on the Move: QR Challenge

https://www.classtools.net/QR/decode.php?text=9.__Explain_what_the_profit_motive_is?

Question 9 (of 10)

 


Business on the Move: QR Challenge

https://www.classtools.net/QR/decode.php?text=10.__Jillian_makes_customized_sweatshirts_for_$17.00_and_sells_them_for_$39.00._What_is_her_profit/loss_on_1_sweatshirt?__Jillian_later_discounts_her_sweatshirts_to_$19.00_each.__What_is_her_profit/loss_on_1_sweatshirt_after_the_discount?

Question 10 (of 10)