Free Printable WorksheetSocial StudiesGrade 5Social Studies CurriculumEPF.5.57

5.57 Profits and Entrepreneurship Worksheet

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Worksheet Overview & Skills Covered

Core academic competencies and curriculum alignment

This Grade 5 Social Studies worksheet provides structured practice on 5.57 Profits and Entrepreneurship. Students are guided through targeted exercises that build foundational understanding, computational accuracy, and critical thinking skills.

Profits and Entrepreneurship (Intro) - Which statement best explains profits and entrepreneurship (intro) as outlined? (C3 D2.Eco.7.3–5; CEE Economics Standard 14 (Entrepreneurship))

Whether you are an educator preparing classroom handouts, a tutor reinforcing weekly topics, or a parent supporting homeschool learning, this printable resource gives students the deliberate practice required to achieve subject fluency and master state standards.

Grade

Grade 5

Subject

Social Studies

Domain

Social Studies Curriculum

Formats

PDF & DOCX

Sample Practice Problems

Preview the types of problems and questions covered in this worksheet

Below are sample questions representative of the exercises included on this worksheet and related 5.57 Profits and Entrepreneurship skill assessments:

Problem 1Difficulty: Mastery

A student says, 'Entrepreneurs earn profit by taking a chance and trying to meet what customers want.'

Which statement best explains profits and entrepreneurship in one clear idea?

AProfit is money earned before paying any costs.

BEntrepreneurs always earn profit if they try hard enough.

CEntrepreneurship means spending money, even if nobody buys anything.

DEntrepreneurship is starting and running a business to meet wants, and profit is what is left when revenue is greater than costs.

Solution & Explanation:Entrepreneurs organize resources and take risks to sell goods or services. Profit is revenue minus costs, and it is the reward when they create value that customers buy.

Problem 2Difficulty: Mastery

An entrepreneur can make and sell either 10 model airplanes for $6 each with $3 cost each, or 6 model cars for $9 each with $4 cost each.

Which statement best explains which option gives higher total profit?

AAirplanes give higher profit because $6 is less than $9.

BCars give higher profit because the price is higher.

CAirplanes give profit (6−3)×10 = $30, while cars give profit (9−4)×6 = $30, so they tie.

DThey cannot tie because they are different products.

Solution & Explanation:Compute total profits: both are $30, so they are equal even though prices and quantities differ.

Problem 3Difficulty: Mastery

A lemonade stand has two possible days. Day 1: sells 40 cups at $1 with $20 total costs. Day 2: sells 25 cups at $2 with $20 total costs.

Which statement best explains which day has higher profit?

ADay 1 is higher profit because more cups are sold.

BDay 2 is higher profit because profit is $50 − $20 = $30, compared with Day 1 profit of $40 − $20 = $20.

CBoth days have the same profit because costs are the same.

DNeither day can have profit because lemonade has costs.

Solution & Explanation:Compute profit: Day 1 revenue $40, profit $20. Day 2 revenue $50, profit $30. Day 2 profit is higher.

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Frequently Asked Questions

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QWhat grade level and standards does this worksheet align with?

This worksheet is designed specifically for Grade 5 Social Studies students. It aligns with educational standard EPF.5.57 (Students practice profits and entrepreneurship in Grade 5 social studies.).