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Whāinga ako: Lesson Goals
Whāinga ako: Lesson Goals
Understand the meaning of income, revenue, profit and loss and be able to apply these terms to everyday and business situations.
Kupu matua - Keywords
Kupu matua - Keywords
Income/Moniwhiwhi Peke – money received (e.g., from wages or allowance).
Revenue/Moniwhiwhi – money a business earns from selling goods/services.
Profit/Monihua – when money earned is more than money spent.
Loss/Moningaro – when money spent is more than money earned.
Mahi - work
Mahi - work
By keeping track of money coming in and costs going out, businesses can see if they are making a profit or running at a loss. This helps them plan for the future, like deciding whether to buy more stock, hire staff, or change prices. It also allows them to spot problems early, such as when a product is not earning enough money, and make changes to fix it.
Scenario
Scenario
Alex sells muffins at school. He thinks his business is doing really well.
It costs $1 to make each muffin. He sells them for $2 each.
Day 1: He sells 10 muffins.
Day 2: He sells 3 muffins.
Day 3: He sells 15 muffins.
From this can do you think he is running a successful business? What other information do you need?
WB/WT Max’s Muffins - Income, Revenue, Profit and LossWW Max’s Muffins - Income, Revenue, Profit and LossWA Max’s Muffins - Income, Revenue, Profit and LossTorohanga - Extension
Torohanga - Extension
Income & expenses. Students work to solve the equation and then make decisions around opportunity cost and trade-offs.
Income & expenses. Students work to solve the equation and then make decisions around opportunity cost and trade-offs.
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