Vocabulary
What is a producer?
a person who makes, grows, or supplies goods for sale
Cool School Elementary had $35 in costs for the farmers market. Their revenue was $82. Was this a profit or loss? How much?
Profit. $47
Budget
What are costs?
Money spent to buy something to make something else.
Why is it important for businesses to have reasonable prices?
See answer
What is a consumer?
a person who buys goods
Yummy Tacos had $136 in costs for the week. They sold 50 tacos for $2.50. Was this a profit or loss? How much?
Loss. $11
Use income in a sentence.
See sentence
What is a profit?
when a company or person makes more money selling their goods than they do making them
Why is it important for people and businesses to have a budget?
See answer
Money you are paid to do a job is called...
An income
Profit. $220
Use loss in a sentence.
See sentence
What is it called when a company spends more money than they make?
A loss
How can a person be a producer and a consumer?
An amount of money a person spends is...
The Chocolatey Chocolate Bar company had $17 in costs. They sold 100 chocolate bars for $1.50 each. Was this a profit or loss? How much?
Profit. $133
We made more money than we spent on the farmers market. We made a ____________.
Profit
Money earned
Revenue
If we make a profit at the farmers market should we be happy or sad?
:)
An estimate of income and expenditure for a set period of time is called...
$38
Use producer in a sentence.
See sentence.
What is another word we used for fair when talking about pricing?
Reasonable
Are red and green bell peppers 2 different peppers?
Nope. They are green first then turn red the longer they are on the plant before harvesting.