After we had our Market day, we had to count all of our money to see if we had a healthy economy. We all added up and counted how much money each business made once our business closed. Then we took out our pink recording sheet and subtracted our expenses to see if our business was healthy. Those who had a healthy economy got a plus. The people who did not have a healthy economy either had too low of a profit or too high of expenses. Overall, we learned how to properly run a business.
By Luca and Katie
Thursday, March 21, 2013
Wednesday, March 20, 2013
Market Day was a lot of fun. Our PYP unit was How We Organize Ourselves, we called it Let's Trade. During Let's Trade we were learning about economies. Our summative assessment was Market Day! All of the 4th grade classes made a product or service of their choice.
Finally, we got all of our products or services set up. Then we got our recording sheet to keep track of how much we sold. A couple minutes later, people from the other classes started coming in to buy things. Some people were not having good business sales so they were lowering their prices. Other people lowered their prices because of compitetion.
We were the last class to shop on Market Day and some businesses had already sold out! Market Day was a lot of fun!
By Katie and Elana
Thursday, March 7, 2013
We did a bead project to learn about the three main types of economies. For this bead project, we had to put beads on a string in a special order to make a bracelet. Each group had four people.
For the traditional economy, one person made a bracelet at a time, and we all had to inspect and approve it to make sure they did it right. We got paid for each correctly made bracelet.
For the market economy, our group got to decide what to make, and how to make it. We got paid for each item we made correctly. At the end, Ms. Diem came and counted how many items each team made.
It was a fun way to learn about the different economies!
By Dana and Brynn