Starter For Ten Enterprise Project. Lesson Eight - Setting the Price

This is the eighth lesson in a series of fourteen which make up the Starter For Ten project. Starter For Ten is a whole term, cross-curricular project for upper primary classes. A series of lessons provide the class with the knowledge and skills they need to start their own businesses in small groups. Groups are loaned £10 to start their business with the businesses running for four weeks after around six weeks learning and preparation.

Starter For Ten provides a highly motivating, real world context for learning with pupils taking full responsibility for their businesses. The pupils are also responsible for making key decisions including what to spend any profit on and whether to act as philanthropists and opt to donate a proportion of their income to charity.

The full project covers a number of curriculum areas: literacy, numeracy, health and wellbeing, religious and moral education, social studies and technologies. All lessons are fully linked to the Scottish Curriculum For Excellence.

Each of the fourteen lessons includes a lesson plan, a PowerPoint presentation and any worksheets or other resources required. Lesson plans include learning objectives, suggestions for differentiation, a starter activity, a main lesson, a plenary activity, suggestions for further development, opportunities for display, and relevant second level Curriculum For Excellence experiences and outcomes.

LESSON 8 OVERVIEW:
NOTE: This lesson can be run as one session or split into two, with costing work by the businesses as homework after part one (slide 11).
During the lesson the children will work in their business groups to decide what they should charge for their product or service. Each business will identify the costs of the items they will need. They will then look at the different options they might have and how these options will affect their income. The businesses will then decide a cost for their product or service.

LESSON 8 LEARNING OBJECTIVES:

1. I can identify products which are good value.

2. I can calculate the cost of making a product.

3. I can identify a price which will allow my business to make a profit from our product or service.