(1QUESTION) I need the answer for only this question! .. Analyzing Information. It costs Eva $40 in materials to make a table centerpiece. It takes her half an hour to make the centerpiece. She charges her client $50 for it. What would you charge? Why?

her husband. Eva had always found her grand services by the hour, Eva researched vendor op mother's stories about the restaurant entertaining, tions, placed orders for goods and services, and but now Eva began asking her for advice about coordinated their delivery. She began to wonder upcoming events. if she could increase her profits by making some of the food and party decorations herself Proyting from a Loss 'To test this, Eva created samples of her food for customers. They loved it! As a result, she land- During her senior year, Eva had difficulty deciding ed her first order that included her handmade food what career route to take after graduation. At the items. With her grandmother's help, she filled the time, event planning seemed more like a hobby order on time and to the customer's satisfaction than a long term career goal. Later, after analyzing the cost of her materials, Eva Eva decided to enroll in the two-year Business discovered that she lost money instead of making Management program at Columbus State Com a profit. In her desire to get the order, she had munity College. She said, "I think the general made the price too low. Eva promised herself that, business courses will be useful, no matter what in the future, she would pay closer attention to career path I eventually decide to take." An agree. her costs and make sure she made a profit! ment between Columbus State and OSU would also allow her to transfer her associate degree credits to OSU if she wanted to complete a four Business Is Born! year degree. In her college course, Eva learned about differ One of the first college courses Eva took was ent business structures. She made a chart that "Principles of Microeconomics." "Topics such compared the advantages and disadvantages of as supply and demand, the role of competition, cach. She decided to set up her part-time service and the profit motive made her think about the business as a sole proprietorship. It seemed like cconomy in and around Columbus. "With my the simplest and least expensive way to operate professor's permission, I fulfilled one of my class for the time being. She named her business "Eva's requirements by researching how the city's current Entertainment Services," filled out the necessary cconomy would impact a new event-planning busi forms, and obtained a tax I.D. number. ness," she said. "I wanted to find out, economi Eva's Entertainment Services was off and cally speaking, what my chances for success were." running! Eva continued to work part-time, planning events to help pay for college. Charging for her What Would You Have Done? 1. Applying Concepts. How would you have increased your knowledge about event planning if you were in high school like Eva? 2. Analyzing Information. It costs Eva $40 in materials to make a table centerpiece. It takes her half an hour to make the centerpiece. She charges her client $50 for it. What would you charge? Why? 3. Drawing Conclusions. If you were Eva, would you have set up the company as a sole proprietorship? What is Entrepreneurship? 71 UNIT What Is Entrepreneurship? BECOMING AN ENTREPRENEUR Although she didn't realize it at the time, Eva Ton became an entrepreneur when she was a high school student in Westerville, Ohio. Follow her story, beginning here and continuing at the end of each unit of the book. Planning for Success One summer, when Eva was in high school, she helped plan her older sister's wedding. There were so many issues! In- vitations, flowers, clothing, and music were just a few of the things that had to as one of her electives. The class, and her be arranged. experience with her sister's wedding, made Helping the entire process go smooth her think of creating an event planning ly was a big challenge, but one that Eva business. She wondered what she could do really liked. The reception menu plan to develop her skills and gain experience. ning was particularly interesting, because Eva began looking for opportunities Eva's parents came from two very different to volunteer for more event planning. backgrounds: Irish and Filipino. She helped plan her Junior Prom and or The event was a success. After it was ganized fund-raising events to finance a over, Eva said, "As my sister's wedding senior class trip to Florida. planner, I had to wear many hats. The Her mother, a high school teacher who whole experience helped me realize the carned her degree at Ohio State Univer- importance of problem-solving, payingsity (OSU), introduced na to friends attention to details, being organized but from the university who needed event flexible, and remaining cool under pres planning. They began asking Eva to plan sure. The wedding took a lot of time and small events like birthday parties and baby effort, but the results were worth it. My showers. sister was pleased, and I discovered I could Eva's grandmother was a widow who do things I didn't know I could." lived with Eva's family. Although Eva's That fall, back in high school, Eva grandmother had never done event plan took an "Introduction to Business" classning, she had run a small restaurant with 70 Unit 1