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Social Studies, 24.06.2020 23:01 lejeanjamespete1

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Part 1– Define the following important terms in your own words:

Competition:
Incentive:
Profit:

Part 2–Complete the following chart in your own words. One appears as an example for you.

Ben Cohen and Jerry Greenfield
Description of Entrepreneur:
Ben Cohen and Jerry Greenfield were childhood friends and started an ice cream shop. They chose a college town for their location and made fun and unique flavors. Now nearly all U. S. states have their ice cream shops and the ice cream for sale in grocery stores.
Debbie Fields Rose
Description of Entrepreneur:

Daymond John
Description of Entrepreneur:

Blake Mycoskie
Description of Entrepreneur:

Joseph Unahue
Description of Entrepreneur:

Vera Wang
Description of Entrepreneur:

Oprah Winfrey
Description of Entrepreneur:

Part 3–Answer the following questions in your own words.
How do competition, incentives, and profit motivate people and businesses? How can a good or service affect culture?
How can the growth of business lead to cultural diffusion? (You can use McDonald's® as an example.)

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