Project Title: "Understanding Wholesale and Retail: A Mini Market Simulation" Project Objective: To understand the difference between wholesale and retail by simulating a simple buying and selling process. Project Description: In this project, you will act as a small business owner. You'll "buy" items from a wholesaler at a lower price and "sell" them to customers at a higher retail price. The goal is to learn how profit is made in retail and how wholesale pricing works. Steps: 1.
Answer (1)
Steps to Create a Mini Market SimulationBuy goods from a wholesaler (e.g., buy 10 snacks at ₱10 each = ₱100 total).Sell them to classmates or “customers” at ₱15 each.Total income: 10 × ₱15 = ₱150Profit: ₱150 income – ₱100 cost = ₱50 profitLessons Students Will Learn from Market SimulationWholesale is when you buy items in large quantities at a lower price, usually from suppliers.Retail is when you sell those items individually at a higher price to customers.This project teaches,Basic entrepreneurshipProfit and lossHow pricing works in businessDecision-making in managing a small shop
