Learning Objective: To provide an opportunity for pupils to work together to solve problems and develop innovative solutions.
Creativity: Problem solving.
Relationships: Working with Others.
Use key word matching task to explain key terms such as:
Discuss with the pupils the process of selling their finished product/service.
Pupils explore how to price their product and calculate costs/prices.
Groups work together to make a collective decision about the price of the product/service.
Explain that when their enterprise project is producing and selling goods or services, the pupils will need a system to keep track of the money.
An accountant or a representative from a local bank could be invited into the school. If a bank is used to hold the account, pupils need to understand bank statements for when they begin trading and accumulating money.
Using ICT ask the pupils to devise a simple accounting system to record income, costs and profit. They will need to know:
• How much money you have for your enterprise project?
• How much money you have spent (costs).
• How much money you have coming in (income).
• How much money you have in the ‘bank’ (balance).
Pupils will have worked together in teams with agreed responsibilities and decided on different ways to price their product.
• Activity 10 Key word matching task resource sheet
1. Literacy and Numeracy Framework
Oracy across the curriculum
Developing and presenting information and ideas; Collaboration and discussion.
Using number skills
Managing money e.g.
• plan and track money and savings by keeping accurate records
• realise that budgeting is important
• use the terms profit and loss in buying and selling activities and make calculations for this.
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