LESSON: A DOLLAR FOR PENNY

Lesson Summary

Penny sells lemonade at her lemonade stand for one penny. As she sells each cup, the price goes up. Eventually, she earns a dollar to buy a birthday card for her mother.

Concept: Price

Definition:  The price is what people pay when they purchase a good or service, or what they receive when they sell a good or service.

Comprehension Questions

Describe Penny's business.
She sells lemonade.

Does she provide a good or a service?
Good

What is the price of the lemonade in the beginning of the story?
One cent.

Does the price stay the same? Why or why not?
She raises the price each time she sells a cup. She wants to earn a dollar.

How many cups of lemonade does she prepare?
Ten
How many did she sell?
Eight - she and her sister had theirs free.

Identify the different prices of her good.
One cent - penny;
two cents;
five cents - nickel;
ten cents - dime;
twenty-five cents - quarter;
fifty cents

How much did she earn when she counted her money?
Three quarters + one dime + two nickels + five pennies = one hundred cents or a dollar.

What did she buy with her earned dollar?
A birthday card for her mother.

Other Concepts:  Goods and Services, Money, Producers

  Price 

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