costs and profits

Math

• The child has learned how to calculate costs and profits by subtracting the cost price from the selling price.
• They have learned how to calculate the percentage profit by dividing the profit by the cost price and multiplying by 100.
• The child has practiced calculating the break-even point by equating the total cost to the total revenue.
• They have learned how to calculate the profit margin by dividing the profit by the selling price and multiplying by 100.

For continued development, encourage the child to explore real-world examples of costs and profits, such as running a small business or analyzing financial statements of companies. They can also create their own scenarios and calculate costs and profits to further strengthen their understanding.

Book Recommendations

• The Lemonade War by Jacqueline Davies: Two siblings compete against each other in a lemonade-selling venture, learning about costs, profits, and entrepreneurship along the way.
• The Toothpaste Millionaire by Jean Merrill: A young boy invents a homemade toothpaste and starts a business, navigating the world of costs, profits, and competition.
• How to Turn $100 into $1,000,000 by James McKenna: This book provides an introduction to financial literacy, including concepts like costs, profits, budgeting, and investing, aimed at young readers.