Figure Out What to Charge for Your Side Hustle

End-of-lesson check

15 questions · take it digitally for instant feedback at tendril.neural-forge.io/learn/quiz/end-builders-business-AI-pricing-teen

1. A student wants to start a dog walking service. They spend 30 minutes walking a dog and earn $5. What is the main problem with this pricing?

   1. The price should include charging for gas money
   2. The price is too high for most dog owners
   3. The time spent does not pay fairly for their labor
   4. Dogs should be walked in groups to earn more

2. Why might a teen charge prices that are too high for their side hustle?

   1. High prices always lead to more repeat customers
   2. They may not know what others realistically charge
   3. They have done too much research on competitors
   4. They want to attract as many customers as possible

3. A teen is selling handmade bracelets for $2 each. The materials cost $1.50 per bracelet. What is missing from their pricing strategy?

   1. They should only charge for materials
   2. They need to include a profit margin for their time
   3. They should lower the price to $1
   4. They need to add shipping costs

4. What is a likely consequence of pricing a side hustle too low?

   1. The business will automatically grow larger
   2. You will become instantly popular and famous
   3. You will have more time for schoolwork
   4. Customers will think the service must be low quality

5. Why is it important to consider what others charge for similar services when setting your price?

   1. It helps you set a price that customers will actually pay
   2. It is illegal to charge more than others
   3. It doesn't matter what others charge
   4. You should always charge exactly the same as everyone else

6. A student wants to use AI to figure out fair babysitting rates in their area. Which question would best help them?

   1. How many hours do most adults work per week?
   2. What video games do teenagers like to play?
   3. Who is the most famous babysitter in history?
   4. What is the average babysitting rate per hour in my city?

7. A teen charges $50 for a logo design that takes 2 hours. Their friend charges $15 for the same work. Why might the $50 charge be the better choice?

   1. The teen is being unfair to customers
   2. The friend will go out of business quickly
   3. The $50 price better reflects fair pay for the time spent
   4. Higher prices always mean better quality

8. What is a key reason using AI to help with pricing is better than just guessing?

   1. AI always gives the exact same answer for everyone
   2. AI can do your homework for you
   3. AI guarantees you will become rich
   4. AI can research market data and comparable prices

9. A tutoring student wants to charge $100 per hour for middle school math help. What is most likely wrong with this price?

   1. They should charge the same as college tutors
   2. The price is too low to be taken seriously
   3. Tutoring should always be free
   4. The price is probably too high compared to typical tutoring rates

10. Why might a teen who starts a side hustle without researching prices eventually quit?

    1. They will have too many customers to handle
    2. Their parents will make them stop
    3. They may burn out from underpriced work or lose money from overpricing
    4. They will become too famous

11. What is the benefit of pricing a side hustle fairly for both the seller and the customer?

    1. The seller will never have to work again
    2. The seller earns enough to continue and the customer feels the price is reasonable
    3. The seller gets free publicity
    4. The customer will tell everyone to avoid the business

12. A student makes custom art for Etsy. They price it at exactly what the materials cost. What is wrong with this approach?

    1. Etsy does not allow sales
    2. They should give the art away for free
    3. They are charging too much
    4. They are not accounting for the time spent creating

13. Which of these is the BEST reason to use AI when deciding what to charge for a service?

    1. AI will do the work for you
    2. AI can quickly find information about what others charge for similar work
    3. AI will force your customers to pay
    4. AI will make up a random number for you

14. A teen wants to charge $2 per hour for dog sitting while the market rate is $15 per hour. What is the most likely problem with this pricing?

    1. They should charge $50 instead
    2. The price is perfectly fine
    3. They will become too wealthy
    4. The price is so low customers may think something is wrong

15. What should a teen consider besides just the cost of materials when pricing a product?

    1. How much their parents want them to earn
    2. What they wish they could charge
    3. How much their best friend charges
    4. The value of their time and effort