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Students in Mrs. Munsterman’s class at Coal City Intermediate School are completing an Economics Unit that introduces basic economic concepts and practical business skills. As part of the unit, students developed an Economics Booklet and learned terms such as producers, consumers, goods, and services.
In a hands-on activity, students formed partnerships to create their own businesses. Each team was responsible for developing a business name, idea, logo, and slogan. They also prepared a list of ten goods and services to offer with corresponding prices. Storefronts were designed using Google Slides for display on selling day.
During the simulation, half of the students acted as producers selling their products and services while the other half participated as consumers with $100 to spend. At the end of the exercise, producers calculated their profits or losses by subtracting expenses from their earnings. Consumers totaled their purchases and remaining cash to check if it matched their initial amount.
The businesses created by students included jewelry stores, sporting goods shops, coffee shops, pet shops, and burger restaurants.
