KS4 Curriculum Booklet 2017 - 18

Curriculum Overview KS3

Subject: Business Studies Overview effective from[date ]: September 2017

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Use fairtrade resources on the pricing of bananas – includes resources to consider the factors that influence the price of bananas. Resource includes research tasks, videos etc. Research – using the internet, students should research the price of a product in three different stores and explain why there are differences. Add additional factors that influence pricing decisions to the original list made in the first pricing lesson. Complete question 3c) 9 marks June 2014 or 2d) 9 marks June 2013. BBC Bitesize recap quiz on pricing Starter – read this article – why would businesses offer this type of scheme? Students create a table for the number of times they would watch their favourite football team or go to the cinema over a year (with a max of 30 times) at a range of different prices. Students plot the data they have collected onto a diagram with price and quantity on the two axes. Students explain the link between price and quantity demanded. In pairs students generate ideas of factors that might cause an increase in demand other than price. Teacher led discussion about why a business does not therefore always charge a very low price.

Factors that influence pricing decisions include costs, nature of the market, degree of competition and the product life cycle.

The factors that influence pricing decisions

To recognise the factors, internal and external, which might influence the pricing decision, particularly as businesses grow and expand. To evaluate the factors and use them to assess the suitability of pricing methods for a given business.

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Students should understand that as prices rise demand is likely to fall.

To understand the basic relationship between price and demand.