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
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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?