Please reflect on the lemonade stand simulation.
- In what circumstances did you succeed?
- When did you fail? How was the profit figured?
- How did their pricing affect the numbers of buyers?
- What choices in supply had to be made?
- What did you gain by those choices and what did they give up?
- What are the risks taken by entrepreneurs such as yourself? Knowing that most businesses fail their first year, would you do anything differently starting over?