Economic Understandings

We had so much fun (oops, I mean "We worked hard!") learning about the different ways to get goods/things we want and need. All week we'd been reading our social studies text book. We read about the things we need: shelter, food, water, clothing; and goods we want: certain food, toys, entertainment, candy, certain clothes.  

When the kids came back from lunch, they did not have chairs atat their tables, but they had a paycheck waiting for them at table spots. They had to pay for rent, to "build" on their land (buy back their chair). 

The menu at the grocery store was funny! You'll be able to see it in the pictures. They'd look it and carefully figure out what they could buy. It was so cool to have them help each other. 

Dr. Simmons-Deveaux came in to share in the fun. If you get her tweets you may have seen her pictures. 

First come first serve: the kids were randomlycalled to come pay rent (buy back their chairs) and then shop. 

Chloe and Devon bought the big ticket items for 8 cents. The others who weren't in the first group were jealous! Lol!

Supply and Demand: some things went on sale becaue there was "a lot of stock"! Like the candy conversation hearts, after 1/2 the kids went, their price changed from 3 for 1 cent to 5 for 1 cent. Lol, some of the early kids didn't like that! 

Supply and Demand: continued...

The chocolate candy hearts were a big hit! At first they were 1 cent a piece. But about half way through their price increased because they were being bought up quickly! Then the price went up to 2 cents a peice! One of the kidds yelled "yes! I bought mine just in time! Lol!  I think he understood what I was trying to teach! 

Manny of the kids liked the toys and silky straws! 

Supply and Demand: continued... Cookies Yum!

These started at 5 cents a piece. When we got to 3 left there was a price increase to 6 cents a piece. Demand at its finest!

What a fun day! I hope they camr home and told you all about it! They have an assignment to write about the store experience on the back of their "Lottery" writing page. Ask them to tell about their feelings atdifferent times of the event. 

Thanks parents!

❤️G