economics lesson

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economics lesson
By Sandy

Here's an idea that I did with my 2nd graders. Have each student take 3 things out of their desk that they are going to put up for (pretend) sale. Give them stickies and have them decide on a price for each item and display
these items on their desk. Then let the students walk around and compare objects and prices. This leads into a great discussion about supply and demand. If most students pulled out a ruler, people are going to buy the cheapest one. If only one or two people pulled out a pencil box or something else out of the ordinary they are going to be able to charge more money because the supply

is very low. After you discuss, then have the students go back and reprice their items to meet the supply and demand for those items. After a follow up discussion, I had them write 2 things they learned in class about supply and demand (in paragraph form, of course).