Making Money
You sell lemonade for $1. You sell 5 cups. How much money did you make?
What is $5?
How much money something takes to make or buy
What is cost?
What is a tool that helps you plan your spending and saving?
What is a budget?
What is a pitch?
What is a short presentation to share a business idea?
You earn $60 and spend $45. What percent of your money did you spend?
What is 75%?
What do we call the money you earn from selling things?
What is revenue/gross profit?
All the money a business spends
What are Expenses?
If you put money in the bank and it grows, what is the extra money called?
What is interest?
Who are the people deciding whether to give you money for your idea?
What are investors?
A business makes $120 in revenue and has $80 in expenses. What is the profit?
What is $40?
Money left after paying expenses.
What is Net Profit?
You buy 3 posters for $4 each. How much did you spend?
What is $12?
💥 Daily Triple
You take out a $100 loan from the bank with a 5% annual interest rate.
If you pay it back after 2 years, how much do you owe in total?
What is $110.25?
(5% of $100 = $5 interest; $100 + $5 = $105 after year 1, 5% of $105=$5.25 interest; $105 + $5.25=$110.25 after year 2)
If your product helps people and is new, what is that called?
What is a solution?
You sell candy bars for $2 each. If you want to make $100, how many must you sell?
What is 50?
💥 Daily Double
You run a smoothie stand. Each smoothie costs $3 to make and sells for $6.
You sell 15 smoothies in one day.
What is your total gross profit, cost, and net profit?
What is Revenue/Gross Profit: $6 × 15 = $90; Cost: $3 × 15 = $45; Net Profit: $90 − $45 = $45?
Money you owe to someone
What is Debt?
If you borrow money from a bank, what is that called?
What is a loan?
Why should a business know their target market/customers?
What is so they know who wants to buy their product?
You invest $50, and after one year, you earn 10% interest. How much money do you have now?
What is $55?
Money that YOU earn or receive (not your business)
What is Income?
You earned $10 but spent $12. What happened?
What is a loss?
Name two things a business might include in their budget.
What are supplies and advertising? (answers could be a range, such as rent, bills, salaries for employees, investments, etc)
What is something special about your product that makes people want it?
What is a unique selling point?
A product is on sale for 25% off. If the original price was $80, what is the sale price?
What is $60?