What are goods and services? Ask us! We're experts now! Goods are things people make or grow and services are things that people provide for others. As consumers (people who buy goods and services), we can buy all of these things from producers (the people who make or sell goods or services). After weeks of learning all about goods and services, producers and consumers, etc. we realized we knew enough to become producers and consumers ourselves! We turned our classroom into a shopping mall full of school supplies. (One of our classmates' parents VERY graciously donated several supplies to our class since we were running low! We are so thankful!)
Different partner groups opened shops around the room with the supplies they were selling (pencils, erasers, glue sticks, scissors, hand held pencil sharpeners, and more!) and played the role of producer. They would set the price of their good based on supply and demand and could change it as the supply and demand also changed. The other students would then go around and shop (using the plastic coin sets we use in math) and purchase goods. The goal was to see who could buy the most amount of goods for the least amount of money. What a challenge! We switched roles as producers and consumers, of course. :) It was so much fun seeing the creativity of each shop with how the producers decided to set up and market and even more fun to actually KEEP the goods purchased!!! Here are a few pictures of the classroom economy we created:
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| Pencil Sharpener Shop |
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| Eraser Shop |
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| Producers and Consumers Trading Goods |
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