002 How much should you charge

👩‍🏫 Teacher’s Guide

Objective
Students will identify costs and set a simple price that covers costs and aims for profit.

Teaching Notes

Teach the basic idea: Price should cover costs and allow profit.
Practice listing costs (materials, packaging, time) and estimating totals.
Explain that different prices can change how many people buy.

🧒 Student Worksheet

Concept and Helping Material

This lesson helps you learn How much should you charge so you can sell goods or services successfully.

Vocabulary and Definition

— The place or method you use to sell, like a shop, website, or market stall.
— The amount of money customers pay for a product or service.
— Money you spend to make or provide your product or service.
— Money left after you subtract costs from sales.
— Ways you tell people about your product and persuade them to buy.

Business QA

What is a sales channel?
Name two sales channels.
Why might a business sell online?
Why might a business sell in person?
What is a price?
What is a cost?
What is profit?
Why must price usually be higher than cost?
What is a fair price?
How can you find a good price?
What is a discount?
Why do businesses use discounts?
What is marketing?
Name one marketing method.
What does 'persuade' mean?
Why are reviews helpful?
What is a unique selling point (USP)?
How can good customer service persuade buyers?
Why is honesty important in selling?
What should you do if customers give feedback?

Hands-On Experiment or Activities

What You Need: paper, markers, sticky notes, pretend money.
What You Do: 1) Choose one product idea. 2) Pick a sales channel (school fair, local market, online). 3) List costs and set a price. 4) Create a simple ad that explains the benefit and the price.
Think and Talk: What changed? What stayed the same?

Reflection

Which sales channel would fit your idea best, and why?
What is one cost you must include when pricing?
What is one honest way to persuade customers?
If your price is too high, what might happen?