In the few weeks leading up to winter break, our 4th grade students were busy learning about economic concepts and putting them into action. Each class operated as a business and were in competition with the other two “businesses” of their grade; the other 4th grade classrooms. We began by charting the important vocabulary we needed to know so we could all use the same language when discussing our business; Good and Services, Cost vs. Profit, Producer vs. Consumer, Competition, and Budget. We also learned about different advertising techniques. Next, we brainstormed what kinds of goods or services we could provide to our target consumers...the 2nd graders. Classes scoured the internet looking for things we could make and sell. Each class was divided into groups. Some were responsible for creating print advertisements, some were creating commercials, and others hit the D-Lab to produce their goods. All of this needed to be done within a budget. Classes learned quickly that everything in business costs money. Ads, commercials and materials were all carefully budgeted so that in the end, they were sure to make a profit at the big sale. Just before break, our classes were ready for our Merchandising and Making Day. Each class set up their tables to sell their goods and services; nine tables in all. Our 2nd graders, who are also learning about economic concepts such as wants vs. needs and spending vs. saving, came to make their choices of what to buy, and they sure had some tough decisions to make! At the end of the sale, we did some math to figure out who made a profit and how much. It was a very close competition! Well done fourth graders! Katie Connelly
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