After learning about the factors of production (natural resources, human capital, capital goods, and entrepreneurs) students watch a mini clip of the TV show Shark Tank. Then they use this template to create a product and explain how each factor of production is needed to make the item. This can be done individually or as a collaborative assignment. Students do need to know what the terms mean before completing their Shark Tank product pitch.
Extension: this assignment could be extended by having students make a prototype of their product and doing a product pitch to the class.