COST COMPARISON AND UNIT COST LESSON PLAN
What does it mean to do a cost comparison?
A cost comparison is when we look at two different products and try to determine the best value. Many times we are faced with cost comparisons when shopping. One item is on sale and is a smaller item that seems to cost less, but another item is not on sale, costs more, but is a larger item.
When this happens, we have to try to figure out which product is the better buy. To do this, we need to complete a cost comparison.
How can we do a cost comparison?
We complete a cost comparison by looking at the unit cost of an item. The unit cost lets us know the exact cost per unit of the item. For example, if an item is in ounces, let’s say 24 ounces we would want to figure out the price per ounce. This is considered the unit cost.
Let’s look at an example.
Which item is the better buy, a bottle of juice that costs $1.09 for 20 oz or a bottle of juice which costs $1.49 for 32 oz.?
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