LEAP 1 ACTIVITIES

ACTIVITY 1: INTRODUCTION
Direction:  Below are the characteristics of money. Match the description of each word in Column I with its
meaning in Column II.  

Column I Column II
B 1. Easily exchanged for goods and services A. Acceptable
A 2. Money is universally accepted B. Convertible
D 3. Long-lasting C. Divisible
C 4. Can be easily broken down into smaller units D. Durable
F 5. Easy to carry E. Homogenous
F. Portable
ACTIVITY 2: DEVELOPMENT
DEFINE THE TERM “BUSINESS” BASED ON YOUR OWN UNDERSTANDING:
Business is an exchange of goods that provide the needs of the consumers as well as the
sellers. Also, when you are the owner of a business, you’re in charge of everything. You can
decide when and where you want to work.

ACTIVITY 3: ENGAGEMENT

Using the KWL Chart, write down what you know about the topic in the What I Know column.
Then, in the form of a question write the things that you want to know in the What I Want To Know
column. Lastly, in the What I Learned column, write what has been added to your knowledge in
business. 

 K-W-L CHART 

WHAT I KNOW WHAT I WANT TO WHAT I LEARNED

KNOW
What I know is business is an What I want to know is What I learned is there are
organization where goods and what different kinds of different kinds of business and
services are exchanged for businesses are and how to start it’s essential to becoming a
money. a business. good decision maker and a
business leader.
ACTIVITY 4: ASSIMILATION
The importance of business in today’s generation is we need a supply of goods and
services because they provide it to the society, they produce different products which are sold or
supply to the society. Business plays a huge role in culture and society. It gives dreamers or
business-minded people to turn their visions into reality.
The reason why I want to create my own business is that it’s easier to earn money. I can
choose the people I want to work with and follow my passion, I can challenge myself and gain
personal satisfaction.

ACTIVITY 5: ASSESSMENT
TRUE or FALSE.

T 1. Business enterprises are legal entities operating in an economy to provide goods

and services at a profit. 
F 2. Businesses will close if they are making losses. 
F 3. Firms produce commodities/goods and services that satisfy the needs and wants of their
market. 
T 4. Government manages the economy. They set the laws that govern households and
businesses. 
T 5. Households consume the goods and services provided by firms.
F 6. Households are known as consumers. 
T 7. Whether a man lives in a simple economy or in a more sophisticated one, he must
survive. 
T 8. A man is seen as an economic animal. To survive, he must be involved in economic
activities such as production, consumption, and exchange. 
T 9. Firms are the producers in an economy. They obtain and maintain markets through
consistent advertising and sales promotion. 
T 10. Government provides the necessary services (road, water, transportation,
communication, etc.) so that businesses may operate efficiently. Households and
businesses must in turn pay their taxes.

REFLECTION:
I understand more about the business that it is not just buying and selling. It really plays a
big role in our society. I realized that it also has its rules by the law that you really need to follow
and it makes many business-person be good and responsible workers.