Are you looking for a mini-unit to spice up your needed economic standards? This project requires students to create and market their own product and sell it to their school. While acting as entrepreneurs, students will learn about the wonderful world of economics!
In these lesson students will:
*develop an idea
*survey the school on what they would like best
*develop idea, business name, product name, product function, picture, and materials needed
*determine the cost to make their prototype and manufacturing cost
*determine how many of the products to make (what will be the demand?)
*develop a way to manufacture the product using their talents
*design an assembly line to manufacture and produce the product
*determine the target audience (who will want my product? Who will my product benefit?)
*develop an advertising slogan (what phrase will get people to notice my product?)
*let others purchase their product
*synthesis their results, profits, and share improvement ideas
Vocabulary included in the lessons: barter, benefit, propose, loss, profit, risk, good, service, opportunity cost, supply, demand, scarcity, consumer, producer, saver, investor/investment, entrepreneur, resources, natural resources, human resources, capital resources, economic specialization
Please check out the PREVIEW for sample lessons and activities. Thanks!
For more great lessons and games, check out my TPT store here!