The children had a brilliant week just before half term with each year group creating their own business. They had a budget of £40 per year group which had to be used to purchase all resources used to make and promote their product. The only thing which was free was their labour! The whole week was a great opportunity for the children to develop their understanding of how much things cost and how businesses make money.
Across the school there were some very interesting lessons during the week. Year 6 learnt about the workplace and were surprised at the pay received by people in a range of jobs. Whilst they would all love to be professional footballers, they have also researched jobs which they can achieve outside sports and the qualifications they will need to gain to achieve their aims. Year 4 looked closely at marketing, developing their understanding of how advertisers use emotive language to encourage us to buy their product. They then modelled their own adverts on some of the examples they felt were most effective.
There were also lots of practical maths lessons across the week. Year groups who made baked goods to sell had to scale up the recipes they had found so that they could purchase enough ingredients. Time plans were constructed to ensure their goods would be ready in time for the sale on Friday. Calculating with money was a major focus; children worked out the cost of their items and how much profit they would make from the sale. They estimated the number of people who would be attending the fair to decide how much they would make.
After half term each class will submit their accounts to Mrs Casey who will work with the class accountants to count their takings and then work out the profit they have made after subtracting their float and costs. The whole school will then wait with baited breath until Friday morning when Mrs Casey will announce the winner in our whole school assembly.
The winning year group will be able to spend the money they have earned on a treat, this could be a trip or visit or something in school. The rest of the money earned will be banked to save for the next stage of our play equipment.
Can’t wait for Friday!