Life SkillsEntrepreneurshipAges 7–9
Costs & Revenue
It costs money to make things (costs/expenses); you earn money by selling them (revenue); if revenue is more than costs, that's profit; if costs are more, that's a loss
Learning resources
Reviewed external links that reinforce this concept. They do not replace Gakuva’s teaching approach.
No reviewed resources for this concept yet.
The teaching approach above still stands. Curated practice links will appear here as the shelf fills.
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This concept
Costs & RevenueConceptual concept
Check understanding
- Explain what costs, revenue, and profit mean using a simple example
- Calculate profit from a given scenario (e.g. spent £3 on ingredients, sold cakes for £8, profit = £5)
- Explain what happens if costs are higher than revenue (you make a loss)
“If your child spent £4 on supplies for a lemonade stand and earned £10 selling lemonade, could they tell you how much profit they made?”
Curriculum record
- Type
- Conceptual
- Subject
- Life Skills
- Domain
- Entrepreneurship
- Age range
- Ages 7–9