Grades 3 and 4 had a fun and mouthwatering activity as they learnt how to make CAKE POPS without cooking or baking anything. Though the main highlight is not on the food itself but on how they can put a price on their product, still the learners appreciated the entirety of the learning experience.
HOW DO WE PUT A PRICE ON THE PRODUCT?
A few terminology and ideas came out as part of the discussion that happened after the activity. Below are the things that the learners shared.
COST (capital or expenses), DEMAND, PLACE/SPACE, TIME, TASTE AND SIZE OF THE PRODUCT, COMPETITION (price set by other stores/shops) are factors that help us determine what price to put on our product.
New terms that came out of this discussion are PROFIT, LOSS, DEMAND, SUPPLY, COMPETITION,
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