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
1. What is a sales channel?
2. Name two sales channels.
3. Why might a business sell online?
4. Why might a business sell in person?
5. What is a price?
6. What is a cost?
7. What is profit?
8. Why must price usually be higher than cost?
9. What is a fair price?
10. How can you find a good price?
11. What is a discount?
12. Why do businesses use discounts?
13. What is marketing?
14. Name one marketing method.
15. What does 'persuade' mean?
16. Why are reviews helpful?
17. What is a unique selling point (USP)?
18. How can good customer service persuade buyers?
19. Why is honesty important in selling?
20. 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?