Entrepreneur Activity 11 – Can we sell it?

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Learning Objective: To provide an opportunity for pupils to work together to solve problems and develop innovative solutions.

Entrepreneurship Characteristics

Creativity:  Problem solving.

Relationships: Working with Others.

Organisation: Planning.

Learning activities

Use key word matching task to explain key terms such as:

• price
• sales
• income
• costs
• profit
• accounts

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).

Learning outcome

Pupils will have worked together in teams with agreed responsibilities and decided on different ways to price their product.

Resources needed

• Activity 10 Key word matching task resource sheet
• ICT

Curricular links

1. Literacy and Numeracy Framework

Literacy
Oracy across the curriculum
Developing and presenting information and ideas; Collaboration and discussion.

Numeracy
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.

2.ICT

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