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Welcome to the Level 4 wikispaces page for Term 4, 2011. Our topic for the last term in 2011 is "Show Me The Money". In this unit of work we'll be asking you to work in groups to produce a product or service to market and sell at our Level 4 Market Day in week 10. The money raised will be put towards a charity that we'll all choose. __Major Topic Understandings:__ One of the most basic ideas in economics is goods and services. More than anything else, money is spent on goods and services. Students will learn the difference between the two. Students will decide on a good or service they can sell to the ‘public’. During this process, they will learn how to cost materials/products, how to fund their good/service, how to market their good/service and if they will make a profit/loss. Students will then survey their Level and decide where any profits will be allocated and justify their reasons why. Students will learn the difference between need and want. __Major Topic Understandings:__ One of the most basic ideas in economics is goods and services. More than anything else, money is spent on goods and services. Students will learn the difference between the two. Students will decide on a good or service they can sell to the ‘public’. During this process, they will learn how to cost materials/products, how to fund their good/service, how to market their good/service and if they will make a profit/loss. Students will then survey their Level and decide where any profits will be allocated and justify their reasons why. Students will learn the difference between need and want.