Elementary Economics: Student-Created Business Hands-On Project
What educators are saying
Description
Want your students to learn and practice economics concepts like producers, consumers, goods, and services in a hands-on way?? In this project, students create their own businesses and actually have an opportunity to "sell" the goods or services!
To begin, you’ll want to form groups of 2-3 students. I provide basic materials like construction paper, cups, beads, string, popsicle sticks, pipe cleaners, etc. I ask parents to donate anything else they might need if possible. I’ve had students create “goods” like bracelets, flower pots, lemonade, and paper airplanes; and “services” like nail painting, hair braiding, cleaning and more! Students are very creative when presented with the opportunity! J
We, of course, use play money for purchasing supplies. For our “grand opening” day, we invite parents and at least one other class and give them play money to spend at the different businesses. It is SO much fun for the students and they really learn a lot!
I hope your students enjoy these activities as much as mine have!
Scope and Sequence
Day 1: Brainstorm business ideas
Day 2: Write a business plan
Day 3: Design your good or service
Day 4: Purchase materials
Day 5: Create your product or prepare service
Day 6: Create a menu of prices
Day 7: Plan and create advertisements
Day 8: Set up your store
Day 9: GRAND OPENING!
Day10: Reflection
Let me know if you have any questions! :)
