PRODUCTION LESSON PLAN
1. Students will need approximately 5-10 class periods to produce inventory to sell on shopping day. During this production time, they may also buy one another’s goods and services. This is helpful because it helps students to determine if they have priced their item at a reasonable price.
2. Students who plan to offer services will have less to do during this time. They may be kept busy providing their service for other students, or they may want to assist another student in production (for pay, of course).
3. Lead students in a discussion of ways to increase productivity. Discuss the following terms with your class.
a. Profit: total money received from the sale of goods or services minus the cost of producing those goods or services. The goal of MoneyInstructor-nomics is to make a profit.
b. Competition: businesses producing and selling similar goods and services are in competition with one another. Competition exerts pressure on businesses to lower prices and/or to increase quality.
c. Inventory: the total amount of goods and/or materials contained in a store or factory at any given time
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