You want to start a summer business to earn money. What will you do? You have to
consider how much money you can afford to invest in this business, how much it
will cost you to make each item, and how much you’re going to charge for each
item. Research something that would be reasonable to make and sell with the start-up investment you have determined.
TASK 1
a) What is the total amount of money you are willing to invest in this business?
*I choose to invest $75 in this business.
b) What item are you going to make and sell? Why?
*I am going to make paintings. I have made a few pretty paintings in the past and I believe it would be fun!
c) Describe how your business will work. How much will it cost you to make each item? How much will you sell each item for?
*I will think of a theme, and I will base my drawing off of that theme. I will use the $75 to buy some painting supplies, such as my favorite paint colors, a few brushes, and some canvases. Therefore, it shouldn’t cost much to make a painting! I will put all of my effort into each painting, and sell them for about $15-$25, depending on the painting. I will sell my paintings to friends and family, and ask others to spread the word about my business!
d) Do you think your business will be profitable? Explain your answer.
*If I invest $75 into my business, and I sell my paintings for $15-$25, I would not have to sell many paintings to make more money than I invested in the first place. Therefore, I do believe my business would be profitable.
I finished the first part, but I need help with the first part of the 2nd,
In Task 1 you determined how much of your own money you’re willing to spend to
get your business started. This is your limit—when making your product you can’t exceed this amount.
TASK 2
a) Write an inequality that represents the fact that while making your product you can't exceed this spending limit.
can someone here help?? thanks guys xoxo
Sure, I'd be happy to help with the inequality for Task 2!
Since your spending limit is $75, the inequality would be:
Cost per item × Number of items ≤ $75
Let's assume that the cost per painting is C dollars and you will make N paintings. The inequality would be:
C × N ≤ $75
This inequality ensures that the total cost of making your paintings does not exceed your spending limit of $75.
Sure! In Task 1, you mentioned that your limit for spending on your business is $75. To represent this in an inequality, you can use the symbol "<=" which means "less than or equal to".
The inequality can be written as follows:
Cost of making each item * number of items <= $75
Let's say the cost of making each painting is $5. Then the inequality would be:
$5 * number of paintings <= $75
Hope this helps! Let me know if you have any further questions.
Sure, I can help you with that!
To represent the fact that you cannot exceed your spending limit of $75 while making your product, you can write the following inequality:
Cost to make each item x Number of items ≤ $75
In this inequality, "Cost to make each item" represents the amount of money it costs you to make one painting, and "Number of items" represents the number of paintings you plan to make. The total cost to make the items should be less than or equal to $75.
This inequality ensures that you stay within your spending limit while producing your product.