Mr. Van has a saying (one of many, but a favorite of mine): “When your outflow exceeds your income, your upkeep will be your downfall.” He will smile today knowing some fourth graders are learning the value of this important lesson in our free enterprise system. 🙂
Ms. Williams’ fourth grade class members have divided themselves into producers and consumers in order to make money to purchase business licenses, supplies, and participate in the Fourth Grade Free Market Society. While talking with some of them recently, it is interesting to note they are highly engaged in this meaningful process. As one friend shared with me: “Basically, Mrs. Van, we are covering business strategy…things like profit margins, losses, fines, fees, pricing, consumerism, consumer index, the need to be innovative, the right time to raise or lower prices, making change, counting out bills at the bank, and the awesome responsibility it takes to keep track of a pay check and bills while meeting demanding deadlines . . . WHEW! It’s a lot for a fourth grader!” 🙂 Another helper added, “I know one thing now, I’m glad I’m not a grownup yet!” 🙂
Evidently, this is expanding some in the coming weeks in order to more closely examine what happens when scarcity drives up prices and flooding the market then drives them back down. What will happen to each learner’s business plan? How adaptive will these learners be next? It’s exciting to see their growth and enthusiasm, especially with a concept most adults have a challenging time mastering!
Note: Thanks for remembering we are a closed campus this week to all visitors, deliveries, and helpers due to final state assessments. We appreciate your assistance.