Market Day! No Credit Cards, Please!
For tips on economic concepts before your next garage sale or selling items on EBay, consider checking in with the third-grade students at Alaiedon Elementary or the fourth-grade students at North Aurelius elementary, both of which held their Market Days this spring. I saved my money so I could attend both to check out the array of goods for sale. They had everything from cotton candy, popcorn, cookies and cakes to lemonade, jewelry, bookmarks, small toys and even Bulldog tote bags.
I chatted with students about supply, demand, opportunity cost, needs and wants, capital, profit margins and more - all of which are essential for becoming a successful business owner. I was struck by students’ background knowledge as well as their ability to handle money. I was fascinated with their responses regarding how they decided what to sell and at what price.
I was amused at how they advertised and how they responded to inventory on the shelf 10 minutes before closing. As you might guess, those buyers who chose to take the risk and wait for sales reveled over their bargains.
Market Day was a successful opportunity for students to showcase their entrepreneurial skills and creativity. They also got the chance to experience running their own business – no credit cards, of course!
