Abstract: This article provides the results of theoretical research aimed at determination of the impact of economic stereotypes upon the formation of business character traits of high school students in the Far North. Students’ representations on the economy are determined as the value foundations for understanding life activity for their effective inclusion into the system of socioeconomic relations. In order to develop the methods for overcoming economic stereotypes by high school students, the authors solved the following tasks: outline the conceptual framework of the term “economic stereotypes”; carry out the analysis of their impact upon human behavior; reveal contradictions in the representations of high school students; determine the key economic stereotypes of high school students of the Far North and the need to overcome them in modern conditions. The relevance of this research is substantiated by the need for the formation of adequate perception of economic reality among youth of the Far North, which would eliminate negative economic stereotypes on the one hand, and contribute to the development of business character traits on the other. The main conclusion lies in identification of such economic stereotypes in the youth consciousness that impede young people in submerging into the economic environment and organizing entrepreneurial activity in the conditions of the Far North. The authors believe that the most effective strategy for overcoming negative economic stereotypes of high school students that hinder their productive economic activity lies in strengthening of the role of education in this sphere, as well as increasing the level of economic competence of the pedagogues and the parents.