What are the advantages and disadvantages of a market economy?
What skills are needed to be an entrepreneur?
How can I balance creating a quality product while making a profit?
These are the questions our young entrepreneurs at Liberty Elementary School asked themselves leading up to their Market Economy Day on June 7.
Market Economy Day is a third grade tradition that seeks to increase the financial literacy of the next generation of future entrepreneurs. By using a school store as a means to teach challenging subjects like finance, business and investing, teachers seek to train a new group of future business owners and creative thinkers.
In this unique form of instruction, students frequently encounter situations that provide the opportunity to relate economic terms and concepts to real classroom situations.
In a mini-economy, students earn play money in a variety of ways and spend it at a class store, class auction, or at stores operated by their classmates.
ture economic system operating within the regular classroom.