The Four Factors of Production/The Role of the Entrepreneur
The Marshmallow Challenge was designed by Tom Wujec and has a whole host of applications. I use it in all of the economics classes when we talk about the four factors of production. It is a great way to show how entrepreneurs, played by them, use land, the materials, and labor, the group, use creative solutions to solve problems.
The whole the procedure can be found at http://marshmallowchallenge.com/Instructions.html. There is some setup time and a little bit of cost associated with this assignment, but it is well worth it.
Afterward, I have them watch the TED Talk found here: https://www.youtube.com/watch?v=H0_yKBitO8M. It leads to some great conversation.