Lesson Title: Classroom Business

Standards: 1 – E1.0.1 Distinguish between producers and consumers of goods and services.

1 – E1.0.3 Using examples, explain why people cannot have everything they want (scarcity) and
describe how people respond (choice).

1 – E1.0.6 Describe how money simplifies trade.

Big powerful idea: Everybody in a community participates by exchanging goods and services.

Essential question: Why do we need money in order to buy things?

Lesson objectives: Students will be able to exchange their own goods and services.

Students will be able to construct and participate in a classroom mini- economy.

Components Teacher Activity Student Activity

(and differentiation
strategies)
Opening As a wrap up of the unit, students will be Students will be
(5 min) able to participate and create their own responsible for completing
small business. After introducing the classroom jobs and
concept of money, students will be given keeping track of their
the opportunity to make some money in the “money”.
classroom. They are able to earn this
money during random desk cleaning
checks, organization of their IPads and
headphones, and their ability to line up in
ABC order at the end of the day. The goal
is for each student to have approximately
$10. They are going to use that money to
“shop” in our classroom for goods and
services created by their peers.
Development Break the 25 students up into six groups of
(60+ min) (or two 4 and one group of 5. Explain to students Students will be placed in
days) that this group will be in charge of creating heterogenous groups at
and selling a good or service to the class. varying ability. Groups
Their group will get to decide whether or will be made keeping in
not they would like to make a good or mind behaviors in the
service based on a pre-made list. They may class.
choose to provide the following goods:
Birthday Cards, Bookmarks, Paper
airplanes and the following services: Desk
cleaning, Rent-a-Kid, Homework
 reminder, or book swap. Call on individual
groups to pick which good or service they
would like. There may be no repeats. Then,
share the roles for the group work. Each
student must have a role in the group.
Before they may begin working write
down what each student’s role is in order
to keep them accountable.
Give students 25 minutes to create their
classroom business. (Possible point to
break up into two day)
Once their store is set up and ready break
the class in half into producers and
consumers. Once one half of the class is
able to shop then switch. Each student is
able to go to as many shops as they would
like depending on how much money they
have. Give students 15 minutes each to
make their choices. (For the services,
students are able to decide which member
from the group they would like to complete
this service for them)
Closure Bring the class back together whole group.
(10 min) Discuss how they felt during the
experience. Why did they buy the things
that they did? Did they have to make
choices based on price and the amount of
money that they had? What was easy about
this experience? What was difficult? Did
they want to buy something but it was
already sold out? Which did they prefer,
being a producer or a consumer?
Materials Needed  Paper for each group to create a
store front
 Materials for students to create
goods and services
In order to keep all
students accountable, each
student will have a job
within their group. One job
will be to set the price of
the good/service (under
$10) and a way to advertise
this amount. One person
will make a sign for their
store front including all
group members names.
And two people will help
make the physical goods or
coupons for the service
provided.
Students will make choices
based on their wants/needs
and how much money is
available to them.
Students will discuss the
experience and bring back
together ideas that were
explored during the unit.
This brings back to ideas
about scarcity and choice,
wants and needs, goods
and services, and producers
and consumers.