Budget and Products

Overview

In this third lesson of “Elements of Business Experience,” students learn simple budgeting for food costs and gift shop items. They also design an element-themed product and use basic pricing to decide what price to charge.

Learning intentions

• WALT recognise that businesses plan how to spend and how much things cost.
• WALT create a simple budget for a small food item and gift shop items.
• WALT design an element-themed product and make a pricing decision based on costs.
• WALT explain their choices using clear business words.

Success criteria

• I can list costs for ingredients or materials and add them to a simple budget.
• I can work out the total cost for a small run of items.
• I can choose a sell price and explain it using “cost” and “profit” (or “money left over”).
• I can describe my product idea clearly and show it with a simple label and plan.

Curriculum links

• New Zealand Curriculum: Business focus—making decisions, using resources wisely, and communicating ideas.
• Learning strand: Developing practical knowledge through planning and trying out ideas (learning by doing).
• Key competency: Managing self (staying on task and making decisions) and Relating to others (sharing roles and ideas).

Lesson structure (30 minutes)

1. 0–4 min: Hook and goal Students look at 3 everyday “business moments” (a snack, a gift, a small event) and quickly answer: “What did it cost?” The teacher states the goal: today we budget and design products.

2. 4–10 min: Mini-teach—costs, selling price, and money left Teacher models using simple examples: ingredients cost money (cost), selling price is what customers pay, and money left over is profit. Emphasise vocabulary students can use: cost, total cost, price, profit/money left.

3. 10–18 min: Budget round—food costs (small numbers) In pairs, students complete a quick “food budget” for a snack: choose one item (e.g., popcorn mix, fruit cups, or mini sandwiches) and list ingredient costs from a teacher-provided cost card. They add costs for one batch and then estimate a small second batch (e.g., double quantities). Teacher circulates to check addition and understanding.

4. 18–24 min: Product creation—gift shop item design Students design an element-themed gift shop product (focus on a simple build or service idea): Sun/Fire, Water, Earth, or Wind/Air. They draw the product and write a short plan: what it is, what materials/ingredients are needed, and a rough cost estimate.

5. 24–28 min: Pricing decision Using a “total cost → sell price” template, students choose a sell price for 1 item (or a small batch) and write one sentence explaining their reasoning (e.g., “My price is higher because I need money left over for more materials.”).

6. 28–30 min: Share and exit ticket Each student shares one product idea and one pricing choice with a partner. Exit ticket: “Today I learned that ___ cost money, and I decided the price would be ___.”

Resources

• Cost cards with simple, kid-friendly prices (ingredients/materials for food and gift items)
• Budget templates (totals for one batch; simple doubling/second batch space)
• Element theme prompts (Sun/Fire, Water, Earth, Wind/Air) with example product ideas
• Paper for product design (A4) and colouring pencils/markers
• Teacher whiteboard or chart paper for modelling cost + total cost + price
• Pair work roles sheet (Calculator/addition helper, Designer/Writer)
• Scissors, glue, and optional simple craft materials for quick mock-up (if time allows)
• Timer for pacing

Assessment

• Formative observation during budgeting: correct addition and accurate use of cost/price language.
• Product and pricing explanation: evidence of a chosen price and a reason based on costs.
• Exit ticket checks for understanding of cost vs selling price and “money left over” concept.

Differentiation

• Support: Provide a partially filled budget sheet (some ingredient costs pre-written) and sentence starters for the pricing explanation (“I chose ___ because my costs were ___.”).
• Support: Offer a small number bank (e.g., costs only 1–10 dollars) to reduce calculation load for younger learners.
• Extension: Challenge students to calculate a “profit/money left over” amount and suggest one improvement (bigger batch, different materials, or a higher-quality selling price).
• EAL/SEN: Use visual word bank cards (cost, total cost, price, profit/money left over) and allow verbal responses captured by the teacher if writing is difficult.