Production Profit and Loss Lesson for Grades 4-8
In this lesson, students work in small groups to produce a toy that can be sold at a price of $5.00. Students track the costs of production for the toy. They then demonstrate the toy and take orders from their classmates. Using the number of orders (quantity demanded), students calculate their total revenue and then either their profit or loss.
This lesson plan is designed for teaching grades 4, 5, 6, 7, and 8.
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Education Level:
Pre-K-5
,
6-8
Subjects:
Economics
Concepts:
Sources of Income
,
Factors of Production/Productive Resources
Resource Types:
Lesson
Languages:
English
