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    Unit 6. Business and Money (Social Science) : Ongoing Costs

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    Hidup Murni
    The document discusses the costs of running a business, including startup costs like investment loans from banks. Ongoing costs include rent, utilities, insurance, and staff salaries. Variable costs depend on sales and include materials, promotional expenses, shipping, and commissions. The document also covers saving and spending money, including saving in banks and receiving interest, spending less by finding bargains, and personal budgeting through making and following a budget plan.

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    Unit 6. Business and Money (Social Science) : Ongoing Costs

    Uploaded by

    Hidup Murni
    22 views4 pages
    The document discusses the costs of running a business, including startup costs like investment loans from banks. Ongoing costs include rent, utilities, insurance, and staff salaries. Variable costs depend on sales and include materials, promotional expenses, shipping, and commissions. The document also covers saving and spending money, including saving in banks and receiving interest, spending less by finding bargains, and personal budgeting through making and following a budget plan.

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    Unit 6

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    The document discusses the costs of running a business, including startup costs like investment loans from banks. Ongoing costs include rent, utilities, insurance, and staff salaries. Variable costs depend on sales and include materials, promotional expenses, shipping, and commissions. The document also covers saving and spending money, including saving in banks and receiving interest, spending less by finding bargains, and personal budgeting through making and following a budget plan.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    22 views4 pages

    Unit 6. Business and Money (Social Science) : Ongoing Costs

    Uploaded by

    Hidup Murni
    The document discusses the costs of running a business, including startup costs like investment loans from banks. Ongoing costs include rent, utilities, insurance, and staff salaries. Variable costs depend on sales and include materials, promotional expenses, shipping, and commissions. The document also covers saving and spending money, including saving in banks and receiving interest, spending less by finding bargains, and personal budgeting through making and following a budget plan.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    UNIT 6.

    BUSINESS AND MONEY (SOCIAL SCIENCE)


    UNIT 6. BUSINESS AND MONEY
    THE COSTS OF RUNNING A BUSINESS
    Before starting a business there are some startup costs. You can go to a bank and ask for an
    investment loan.

    • Ongoing costs
    They are costs that can be daily, weekly, monthly or yearly.
    - Rent: is the Money a business pays to use a building or an office.
    - Utilities: for example, water, electricity, gas, internet, telephone line.
    - Another expense is insurance, which is necessary in case somebody has an accident, or the
    building is damaged.
    - Salary for the staff.

    • Variable costs
    They depend on the sales the business makes.
    - Materials to make the products.
    - Promotional costs of advertising and campaigns.
    - Shipping costs if the products are delivered to consumers (for example from an online shop).
    - Commissions are sometimes paid to employees for the sales they make. If they meet sales
    target, they receive a bonus.

    SAVING AND SPENDING MONEY


    Cashflow is Money coming in and Money going out. You can save your Money in savings
    account in a bank, but the bank can use your Money. You receive a percentage of the profits as
    interest and you can ask for your capital when you want.

    • Saving money
    Children can save their Money in different ways, at home or in a bank if their parents sign the
    papers. In a bank Money is safe and they can receive an interest, although you have to pay a
    fee for having an account.

    • Spending less
    Shops have offers and bargains (products at a very low Price)

    • Personal budgeting
    Making a budget is a way to minimize expenses and maximize savings. There are:
    - Fixed expenses (the same amount of Money each month)
    - Variable expenses (vary from month to month)

    • Planning a budget
    1. Keep a record of your income.
    2. List the things you want to buy
    3. Check the prices of the things you want to buy.
    4. Revise your list and delete things you can´t afford.
    5. Repeat step 4 until you are within your budget.
    Unit 6: Business and money

    1. What is the name you use when people exchange goods and services?

    2. Before the paper money and the exchanging, what did the Chinese invent? When?

    3. When was the Euro accepted in Spain?

    4. What countries use the Euro?

    5. Before the money was invented. How did the human exchange goods?

    6. What is a startup cost?

    7. What is the difference between fixed costs and variables costs? Write examples.
    8. Why variable costs are difficult to estimate?

    9. What is the name when the money is always in motion, coming in and going out?

    10. What is a saving account and how it works?

    11. What are the pros and cons of having a piggy bank?

    12. What are the pros and cons of having a bank account?

    13. How can you spend less?

    14. Why is good to make a personal budgeting?

    15. What steps do you have to do to plan a budget?

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