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Students learn basic economics with a classroom economy.

 

 

MONEYINSTRUCTOR-NOMICS
CLASSROOM ECONOMY:


Starting your Business:
Prototypes and Service Demonstrations

A lesson on starting your business for a classroom economy. In this lesson, students will start their business by designing prototypes and working on service demonstrations.

Teaching Objectives:

  • Students will make a prototype of a product or develop a service demonstration.
  • Students will analyze the cost of the materials required to produce their prototype or service.

Suggested Grades:

Second Grade - Third Grade - Fourth Grade - Fifth Grade

 
 

 

STARTING YOUR BUSINESS LESSON PLAN

 


Teaching Materials

  • Lesson - Starting your Business: Prototypes and Service Demonstrations Lesson and Worksheet (see below for printable lesson)

  • Before the lesson begins, you will stock your classroom store with the items that you have gathered from your own supplies and the supplies that parents have sent in.  Students will shop in the classroom store and design a product or a service that they will be able to sell to other students or to classroom visitors during the MoneyInstructor Bazaar.  

    You will update your wish list to reflect the items that will be needed in order to have each student able to produce approximately 20 products or provide 20 services. 


Lesson Excerpt:

Initial Opening of Supply Warehouse:

Before beginning this activity with students, you must have your classroom store organized and the items must be priced. Stock your store with classroom craft supplies, donations sent in by parents (see letter to parents in Lesson 6), and items donated by other teachers.  The items needed for production can be easily managed in a number of boxes or tubs.  For example, put fabric in one tub and arrange ribbon, string, and yarn in another.  Beads, separated into baggies, could go into another tub.  These tubs or boxes can be set out in the front of the room during production and stacked neatly in the back of the room at other times.  A student can be hired to ensure that the tubs are neat at all times. 

Pricing:   There are several ways to display prices for the goods in your classroom store. 

 

 

Continued...

 


 


Lesson Printable Materials - Worksheets

Print out the teaching lesson pages and exercise worksheets for use with this lesson:
  

STARTING YOUR BUSINESS

Starting your Business: Prototypes and Service Demonstrations Lesson *

Printable lesson worksheet and activity.

 

 

 

 

 

 

 

 

 

 

 

 

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