Microsociety

week 6+7

In microsociety we learnt what profit and loss meant eg: i bought a car for 1000 pounds and sold it for 1500 pounds that meant i got a profit because i got 500 pounds more than what i bought it for . eg: I bought a car for 1000 pounds but only sold it for 500 pounds that is a loss because i lost 500 pounds and that is what profit and loss mean.

We also watched a short video explaining it.

Then we got into are groups and saw if we had made a profit or a loss most groups did well.

we filled in a sheet called a ledger saying how much are products were and how much we needed to pay the tax person.

And the fun bit was we started to trade we sold out after about 2 minutes we got a lot of money and it was really fun after we had sold out we went and locked at other peoples i bought some slime and had a lock around there was apple bobbing,comics,arts and craft,slime and table tennis.