3rd Grade Marketplace!
The Grade 3 is wrapping up their Unit of Inquiry on The Marketplace!
Central Idea: Marketplaces depend on the ability to produce goods and services that can be exchanged for money
Lines of Inquiry:
- The role of supply and demand
- The distribution of goods and services
- Responsible production and consumption
Throughout the unit, the students have been expanding their knowledge on and making connections between the key vocabulary: supply, demand, goods, services, production, and consumption.
The students first experienced a marketplace in their own respective classroom, where there were ways to earn money (income), as well as ways to spend it (expenses). In the second round, students were able to revise the marketplace.
We then informed our students that we would be opening up the market to all 3rd graders, and that we would be holding a 3rd Grade Marketplace where they could be both producers and consumers.
Each student, or groups of students, came up with a business plan. Taking into consideration the wants and needs of grade 3 students, they planned on what goods or services they would produce. Students were creative and came up with a wide variety of goods (bracelets, balloons, slime etc.) and services (dance, culture lessons, language lessons, etc).
During the marketplace, they spend half of the time as producers and half of the time as consumer. This was a great learning opportunity for students, that reflects the real world.
Well done to all of the grade 3 students!
We hope the year ended with a bang!
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