Here’s a deal

How you can tell if something is a reasonable price. What information do you think would be helpful to determine whether a good or service is a reasonable price?

Record your ideas using a method of your choice.

In this learning activity, you will be learning some strategies to determine if something is a good price, with the goal to spend money wisely.

A good price

The price of something can change depending on different things, such as:

• the availability of items
• the size of the store selling the item
• the season and holiday approaching

Larger stores may order items in large amounts, or bulk, and might not charge as much, although this is not always the case.

Items that are nearing the end of the season are often discounted as stores try to make room for new items for the new season. This is often the case with clothes or seasonal equipment and activities for winter and summer.

How do we know if something is a fair price?

In order to compare prices, it’s a good habit to explore prices and record any changes.

For example, strawberries can be regularly $6 each but can go on sale at $6 for two packages.

Being a smart shopper

Spending money reasonably requires a bit of homework by monitoring prices occasionally. Some adults will sign up for newsletters or flyers from stores to stay up to date on prices, sales, and discounts.

Shopping for clothes at warehouses, or gently used secondhand stores, can also help save money by spending less.

Price check

The following chart lists some items and their prices at a store:

You will now do your own research to “price check” these items or try to find better prices. You can search for the items online, use a flyer, or any other method you would like.

Record your findings in the following fillable and printable document Price Check Chart. You can also complete this activity in your notebook or using a method of your choice.

A good deal for a meal

Imagine that a student at a chef school needs to create a meal for their final exam. Find a recipe, or use one that you already know, to help the student create this meal. Record the list of ingredients that the student chef will have to purchase.

Select three different grocery store names (grocery stores with owners like Metro, Loblaws, Sobeys, Food Basics, and NoFrills, etc.). Explore their flyers, and compare the prices of the items so that the student can do some comparison shopping. You can use the Internet to find flyer apps and browse flyers digitally.

Based on the prices you’ve researched, where would be the best place for the student chef to go buy all the ingredients at once?

Reflection

As you read through these descriptions, which sentence best describes how you are feeling about your understanding of this learning activity? Press the button that is beside this sentence.

Now, record your ideas using a voice recorder, speech-to-text, or writing tool.

Press ‘Discover More’ to extend your skills.

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