Hell. I learned that at 10. I had a paper route. I had to collect (learned how to do that well) the money and pay for the papers I delivered (cost of goods sold). Whatever was left was mine to keep (income). Didn't have much in the way of costs, except the occasional bicycle tire tube, and my time. I figured out real fast that tips were paid for excellent service. I also figured out how to reduce the time it took to fold, pack, and deliver those papers dry and undamaged. More tips, better profit. 😎
Yes, I remember my paper route too. I lived in Fargo but delivered the Minneapolis Tribune, seven days a week. As I recall only a dozen or so customers for Monday through Saturday, but about 30 or 40 for the Sunday paper.
As I recall people paid for the subscriptions directly to the Tribune and I did not need to worry about collection.
But your point is well taken, even a job like a paper route can teach basic economics. It is like getting your first pay check: the difference between gross and net pay.
Had a paper route in a neighbor hood full of retirees in the 70’s. They had to strictly budget. No tips, and if the paper was five minutes late, they would let you know about it. My pal, also a paperboy, couldn’t understand why I was always broke. Then he moved to that neighborhood, so we traded routes. My new customers were working folks and they paid a dollar a week for the eighty cent weekly subscription. Roles were happily reversed ;)
Once I got on regular with the local semipro monthly tournament, I'd make $40-$50 a weekend, pretty good in 1960s dollars with no taxes.
Didn't make that much, but it covered my entertainment expenses. I'd head over to the alley after school, basically spent a couple of hours playing pinball. Rarely had homework, which I would complete in the library.