Costs & Revenue

Life SkillsEntrepreneurshipAges 7–9

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

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Teaching Table

Set out your lesson

Separate money received from money left after costs.

Activity

Inferred, not a taxonomy edge: learner can access the supplied prompt with agreed support and can explain or mark a response. If earlier skills are unfamiliar, use the prerequisite topic for teaching; an authored prerequisite is not proof this learner is ready.

Sequence

Keep the two adult-only cards off the learner screen. Have a pencil and scrap paper if useful; oral pointing/typing/AAC can replace handwriting unless spelling or composition is the target. No printing, cutting, account or purchase is required.
Open Show first, read the explanation together, and pause to check the central idea. Then do Guided Try together.
For Try, close earlier models and the adult keys unless the task explicitly supplies a reference. Record any hints, read-aloud help or model reopening; do not call supported work independent.
Use only the active learner card. Keep the private key closed until an attempt is recorded. Stop or take a break on request; practical claims stay not observed unless actually done.

No Printer

Use on screen; read aloud or recreate a tactile model only with declared support. No printer or purchased kit.

Privacy

Never display adult keys or dictation spellings with a learner task; no family financial, identity or conflict disclosure.

Use the complete materials on screen or print only the current sheet. Keep adult guidance out of learner view. Retain an earlier model only when the current step supplies it as context.

Teaching limits and safe use

These are finite task opportunities, not proof of mastery. Record what was attempted and what support was used.

Simple arithmetic scenario, not financial planning or a real business forecast.
These bounded examples do not establish independent performance in other situations. Record the support used.

Never display adult keys or dictation spellings with a learner task; no family financial, identity or conflict disclosure.

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Entire curriculum

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Teaching approaches

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Separate money received from money left after costs.

Family records and proof options

Keep a record of your learning

Save photos, notes, and attendance. Export a proof packet for compliance or portfolio reviews.

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Learning resources

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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