I want to start out by thanking all of you who sent things for our economics project. This was a week long project that the kids participated in and I think they learned a very valuable lesson.
The week before the project, we discussed good vs. service and need vs. want. We sorted pictures and had discussions that were really great!
The first day of the project, the kids got to earn classroom fake money to buy things in the store later on in the week. They earned money for doing their classroom job (like line leader, library helper, teaching assistant, etc.) They also earned money for doing the right thing in the classroom, like completing work correctly, working quietly or walking in the hallway safely. Finally they could earn money for doing random acts of kindness that were genuine, not just doing them because they wanted money, but because it was the right thing to do.
On the following day, the kids got to choose a good to make and sell. All the goods were considered wants-necklaces, bookmarks, pom pom creatures and more! The kids bought supplies needed from the "warehouse" and then proceeded to create their good to sell. They had to come up with a reasonable price and an advertisement that was sure to get them some good customers.
The final day was our selling day! The kids set up their shops around the room and got to buy from each other. They also got to buy from my store. My store had all the needs for student survival-crayons, scissors, glue, erasers... even a chair!!!! I explained to the students that we would be doing an important activity immediately after the store that involved cutting, gluing and coloring. I was shocked to see how most of them ignored my store! Many kids continued to only buy wants, even after several times of reminding them to get what they NEED!
After the stores closed we passed out the activity and lots of kids struggled because they had forgotten to buy their needs! The few that had taken the time to purchase their needs did not have difficulty at all. This brought up some great discussion! We concluded that we are thankful that our parents provide for all of our needs first, and save the extra money for wants!
I felt like the learning during this project was so meaningful and so deep. It incorporated so many subjects-economics, money and a life long lesson!
Ready to sell!
Mrs. Stagg's kids helped run the "needs" store
Trying the advertise the needs!
Loves his pom pom creature!
And now for the cut/glue/color activity...
No scissors? Problem solve!
No glue? Be a thinker!
Coloring with colored Popsicle sticks...
