Entrepreneurship — Lesson 123

Understanding Income and Expenses

Students break into small groups to play the 'Barking Business' board game, to learn the difference between income and expenses, and how profit is calculated.

What Students Learn

1. Cash flow is the relationship of coming in to money going out

  • Income is money coming in
  • Expenses are money going out

2. It is important for financial success to have more income than expenses

  • Income can be increased with ideas, work and passion
  • Expenses can be diminished with by good budgeting skills

Suggested Time

  • Preview and Episode Viewing: 45 minutes
  • Activity 1: 20 minutes
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