Class Store Economic Decision Project

Miranda·

Economics

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SubjectEconomics

Original Prompt

Week 27: Economic Decision-Making Project Standards: SS2E1–SS2E4 – Cumulative economic standards review. Focus Question: How do we use everything we’ve learned to make smart economic decisions? Day 1: Planning a Class Store – Introduction Objective: Identify wants/needs and plan items for a classroom store. Warm-Up (10 min): “What would you sell in a store?” brainstorm. Whole Group (15 min): Introduce idea of class store and roles (producer, consumer). Small Group (20 min): Students brainstorm...

This resource outlines a classroom simulation where students apply economic concepts such as needs/wants, goods/services, producers/consumers, and pricing to create their own store plan. Students will visualize their ideas by drawing a product or service, develop a plan by identifying it as a good or service, and justify why consumers would be interested in their offerings. A step-by-step checklist guides students through the creation process, focusing on fine motor skills through craft projects. Additionally, students will determine the fair price for their products, create advertisements incorporating vocabulary from a provided word bank, and participate in reflections on their experiences as producers and consumers during the store day. The explanation of economic decisions encourages students to consider budgeting and scarcity in their choices.