Business Basics
What is a business? Give a simple definition.
A business is a place where people buy and sell goods or services, usually for money.
What is the difference between a need and a want?
A need is something you must have to live, a want is something you would like but don’t need to survive.
What is a startup?
A startup is a new business, usually with a new idea or product.
What information should you put on a good product poster?
Product name, picture, description, price, and maybe a catchy title.
What is one good question customers can ask when shopping?
“How much does it cost?” or “What does it do?”
Name two things that a business might sell.
Products (like pencils, books) or services (like haircuts, delivery).
Give one example of something that is a need, and one example of a want.
Need: Water or food; Want: Toys or candy/sweets.
What are two things that make a startup “new”?
A new idea or a business that is just beginning.
Name two words you might use to describe your product on a poster. (Extra bonus points if you can explain why)
Exciting, new, colourful, amazing, useful, fast, etc.
When selling a product, what words can you use to make it sound exciting?
“Amazing,” “new,” “best ever,” “fun,” “super cool,” “special offer!”
Is a lemonade stand a business? Why or why not?
Yes, because it sells a product (lemonade) to customers for money.
If you have $10, would you buy a toy (want) or lunch (need)? Explain your choice. (Say why)
Most students will say ‘lunch,’ because food is a need. Discuss their own reasons.
If you could start a business at your school, what would it be and why?
Answers will vary; encourage students to get creative!
Where do we see advertisements in our everyday life? Name two places. (Use sentence starters such as "We would see them..."
On the street (billboards), online, TV, magazines, buses, or in shops.
What should you do to be a good presenter in front of the class?
Speak clearly, look at the audience, smile, use good English, show your poster.
What are two different types of businesses you know?
Small business (like a bakery), big business (like a supermarket).
Can a business sell both needs and wants? Give an example.
Yes. A supermarket sells bread (need) and chocolate (want).
What does it mean for a startup to “solve a problem”?
It means the business helps people with a difficulty or need they have.
Why is it important for a media publication (like a poster) to be “attractive” or “interesting”?
So people notice it and want to learn more or buy the product.
How can you give feedback to someone after their presentation?
Say something positive (“I liked your colors”), and one thing to improve (“Maybe speak a little louder”).
Why do people create businesses?
To earn money, help others, solve problems, or make something people need or want.
Describe a time when you had to choose between two things you wanted. What did you pick and why?
Answers will vary! Encourage students to share a real example and their reason.
Read this startup idea: ‘Water Buddy is a sticker that reminds you to take your water bottle.’ What problem does it solve?
It solves the problem of people forgetting their water bottles.
Imagine you see a poster. What might make you want to buy the product?
Bright colors, a cool picture, an interesting product, or a special offer.
Why is teamwork important during the Amazing Products Workshop? Give one example.
Teamwork helps everyone share jobs and work better—like one person presents while another helps with the poster or sales.