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Our classroom economy teaches students many different life concepts and skills. Students learn basic economic principles such as supply/demand and goods/services. As they brainstorm ideas for their business, students consider their interests and skills. Once they decide on a potential business, they conduct market based research to see if their business would have potential customers. In addition, students survey potential buyers to determine a cost value for their product. A business plan is completed by each student that includes product information, company goals, expenses, and marketing strategies. Once this is finished, they market their company by creating advertisements and signs.
Market Day is a very exciting day in our classroom! All businesses are set up and products are displayed (after they pay their $50 space rental fee!). Students use the classroom money, Eggebucks, that they earned to purchase goods and services from fellow entrepreneurs. Once Market Day comes to a close, students will count the money and deposit their profit into the bank. Individual checkbooks will be kept by students to track their expenses and profits. As the year progresses, the bank will provide loans to businesses and students will earn monthly interest. In addition, businesses will have the opportunity to offer sales on items. This will provide students to work with additional math concepts such as percentages.
Come visit us on Market Day and see what the fuss is all about!
Please click here to watch commercials that students' created to advertise their businesses.
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