Start you own business

Name: ________________________________________________________
Grade: 9/MYP4 Date: _____ / _____ / 2022
Subject: Mathematics

Unit Title: Linear Relationships

Related concept(s) Global context

Key Concept
Change, Models, Representation Globalization and sustainability:
Relationships
Impact of human decision-making

Statement of inquiry
Representing patterns of change as relationships can help determine the impact of human decision-making
on the environment.
Relationship between summative assessment task (Feeding a Growing Planet) and statement of inquiry
In the Feeding a Growing Planet task, you will use the mathematics you learned to describe the patterns of change in meat consumption and rainforest
destruction. The decisions humans have made in these areas directly impact our planet, and you are asked to assess what they are and suggest ways to minimize
(or reverse) these patterns. This brings the statement of inquiry to life and takes it one step further as you realize that knowledge can lead to the power to make
changes just in the nick of time.
 Bracelet Business Profitability Challenge………
🌟 Welcome to the exciting world of entrepreneurship! Imagine starting your own business, crafting
beautiful handmade bracelets that captivate the hearts of your customers. Your mission is not only
to create stunning jewellery but also to master the art of business profitability. How can you
maximize your earnings while managing costs? The answer lies in the power of mathematics! 🌟

Task objectives
Use linear equations and inequalities to model business costs, revenue, and pricing decisions.

Questions to Ponder:
1. What's Your Unique Bracelet? Begin by selecting a specific type of handmade bracelet. Is its
elegant beaded jewelry, rustic leather designs, or trendy friendship bracelets? Who is your ideal customer?

2. Cracking the Cost Code: Calculate the costs involved in making each bracelet. What materials will
you use, and how much will they cost? Don't forget to factor in labor and any fixed expenses related to
your crafting space.

3. Pricing Strategy: What's the ideal selling price for your bracelets? Consider market competition and
customer demand. How will you set a price that attracts customers while ensuring profitability?

4. Linear Revenue Model: Create a mathematical equation that predicts your revenue based on the
number of bracelets sold and your selling price. How can you use this equation to estimate your earnings?

5. The Break-Even Point: Develop a linear inequality that defines the point at which you start making a
profit (when revenue exceeds costs). How many bracelets must you sell to reach this point?

6. Scenarios and Strategies: Imagine different scenarios that could impact your business, such as
changes in material costs or seasonal demand fluctuations. How will you adjust your pricing and
production to remain profitable in these scenarios?

7. Maximizing Profit: Put your mathematical models to work. How can you optimize your pricing
strategy and production levels to maximize profit? What strategies will you employ to succeed in a
competitive market?

This challenge not only tests your mathematical skills but also your entrepreneurial spirit and creativity. Are
you ready to embark on this entrepreneurial journey and unlock the secrets to a profitable bracelet
business? Let's get started!
Regenerate