Life Skills
Entrepreneurship
Conceptual
7–9 yrs
Costs & Revenue
成本与收入
Description
It costs money to make things (costs/expenses); you earn money by selling them (revenue); if revenue is more than costs, that's profit; if costs are more, that's a loss
Mastery Evidence
- Explain what costs, revenue, and profit mean using a simple example
- Calculate profit from a given scenario (e.g. spent £3 on ingredients, sold cakes for £8, profit = £5)
- Explain what happens if costs are higher than revenue (you make a loss)
Assessment Prompt
If your child spent £4 on supplies for a lemonade stand and earned £10 selling lemonade, could they tell you how much profit they made?
