3.SS.6.C
Explain how the cost of production and selling price affect profits.
Grade 3 · Texas Essential Knowledge and Skills (TEKS) · TEKS 2010
Standard Unwrapping
AI-generated as a starting point — sign in to edit.Vocabulary
cost of productionselling priceprofits
Skills
- explain (how cost of production affects profits) #dok2
- explain (how selling price affects profits) #dok2
- analyze (relationships between costs, prices, and profits) #dok3
Learning Targets
- I can explain how the cost of making a product or service affects the amount of profit a business earns. #dok2
- I can explain how the price something is sold for can increase or decrease profits for a business. #dok2
- I can analyze how changes to costs and prices impact how much profit a business will make. #dok3
Big Ideas
- Profit is affected by both how much it costs to make a product or provide a service and by the price at which it is sold.
- Businesses must consider production costs and selling prices to make decisions that increase profits.
Essential Questions
- What happens to profits when the cost of making something goes up or down?
- How does the price a business charges for its product or service affect its profits?
- Why do businesses need to think about both their costs and their selling prices?
- Can a business still make a profit if it sells at a low price? Why or why not?
- How do cost of production and selling price work together to impact profit?