Managing my money | Baamboozle - Baamboozle | The Most Fun Classroom Games!

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What is the difference between profit and loss?

If you earn more money than you spend, then you make a profit. If you spend more money than you make, then you make a loss.

Would you prefer to own your own business or work for another company? Why

(Student Answer)

What type of business cost is the rent a business must pay for its shop?

It's an ongoing cost.

What are the advantages and disadvantages of using a credit card?

(Student Answer)

What shape is a company hierarchy?

It's a pyramid.

Name some places where people spend money.

Example: Supermarket, sweet shop, transport

Can you name 5 different types of business organisation?

Example: Sole trader, partnership, family business, franchise, multinational company, worker cooperative...

Income - Expenses = Profit. Explain this calculation in your own words.

(Student Answer)

Would you prefer to be a CEO, or a normal member of staff? Why?

Student Answer: I would prefer...

What are the 3 categories of business costs?

Start-up costs, ongoing costs and variable costs

Name four things you can do with your money.

You can spend it, save it, invest it or donate it.

Think about your school. Name one ongoing cost and one variable cost it must pay.

(Student Answer)

Name some different ways we can pay for goods and services.

Example: Cash, credit cards, debit cards, cheques, gift cards...

What is the difference between the CEO, CFO and COO of a company?

CEO = Chief Executive Officer. CFO = Chief Financial Officer. COO = Chief Operations Officer.

To spend less money, what words should you look for when you are shopping?

Example: Sale, Reductions, Promotion, Money Off, 2 for the price of 1

What can a budget help you do?

A budget can help you manage your money.

List some examples of start-up costs.

Example: Decoration, Furniture, Equipment, Licenses, Advertisments...

If you were given 500 euros, what would you do with it?

Student Answer: I would...

Name 3 parts that form the board of directors.

Pick 3: Sales, Finance, Human Resources, Administration, IT, marketing