Welcome to the Econo City Lemonade Stand! Usually my wife, Mrs. E. Conomy, runs the stand, but she had to go visit her sister Ms. N. Vestment. It would be so great if you could help us out for the next month.
During this next month, you will learn what it's like to be a producer and a consumer. A PRODUCER is someone who makes things (i.e., a musician makes music, a baker makes cakes), while a CONSUMER is someone who buys or uses things. Everyone, even you, Kid, can be a producer and a consumer.
Some other key terms you'll need to know before taking over this lemonade stand are PROFIT, the money you earn from selling a product or service, and LOSS, the money you lose. For example, let's say on Monday you spend $1.00 to make your lemonade (lemons, ice, water), and at the end of the day, you've made $4.25. Your profit is $3.25 because you spent $1.00 to make the lemonade you sold. Then on Tuesday, after you spent $1.00 to make lemonade, you only made $0.75. You would have suffered a loss of $0.25.
At the end of the month, the city's accounting department will need to see a report of your profits and losses, so please make sure to keep track of that with the Lemonade Stand Monthly Report.