New Year's Market
Randy and Jocelyn's Class
- Bartering and Trading
- Wants vs. Needs
- Goal Setting (short, mid and long term)
- Markets and Competition
- Opportunity Cost
Each company (comprised of 1-2 students, self-elected) has spent time working on their business plan that reflects their company business philosophy and goals. The plan outlines potential competitors, product surveys, financial projects and documentation of the creation of their products. (You may have witnessed some aspects of this at home.) All products will be marketed and sold by their respective companies using Nishant Bucks, our classroom currency.
Last year, students spent unlimited amounts of real money on building/making/creating their products in exchange for selling them for fake money. We found that this was an essential lesson the class was missing. Instead of allowing the students this year to buy whatever materials they needed, we developed an exchange rate. One US dollar is equivalent to ten Nishant Bucks. Therefore, each company has 150 Nishant Bucks to trade in for their materials that Randy and Jocelyn purchased from their classroom budget. This was challenging for most of the companies, as they were unfamiliar with the cost of shipping and handling. We directed them towards Amazon Prime where shipping is free with a membership. They spent a good portion of a week trying to figure out and plan for their products while staying within their allotted budget.
How Will it Look?
Group 1: will set up from 9:30-10:00 and sell from 10:00-10:30
- Ava T./Ava VK
Group 2: will set up 10:30-11:00 and sell from 11:00-11:30