Market+Project

6th Grade Market In this unit students will be creating their own business. Students will be studying various aspects of economics including: supply, demand, consumption, consumer, capital, wage, and unit cost. They will also be looking at different types of advertising techniques different businesses use to be successful. While all students will be required to make a business, business plan, and a product we encourage students to think of something they can make that they don't have to spend money on. Some ideas from last year's classes include: baked goods, drawings, hair ties, friendship bracelets, bows made from newspaper and duct tape, magnets, and plants.

We would really like to enforce that there is no need to spend money on the products...be CREATIVE!!

A suggestion from a previous student:

"If you're going to sell something make it unique. Something that no one else has made and the easiest option isn't always the best."

Business Plan Document 

media type="custom" key="27534102"

https://www.teachertube.com/video/ducktales-bottlecaps-become-fiat-money-and-in-272068 The Market

Students will study and explore basic economic principles in this unit. The culminating project is creating a product to sell at our “Riverview Market Day.”

Topics we will explore during this unit:
 * Money
 * Supply and Demand
 * Want vs. Need
 * Scarcity and Choices
 * Goods and Services [|'Goods and Services' Brain Pop video]
 * <span style="font-family: 'Baskerville Old Face','serif'; font-size: 19px;">Inflation
 * <span style="font-family: 'Baskerville Old Face','serif'; font-size: 19px;">Advertising

<span style="font-family: 'baskerville old face','serif'; font-size: 64px;">Advertising

<span style="font-family: 'baskerville old face','serif'; font-size: 11px;"> <span style="font-family: 'Baskerville Old Face','serif';">
 * <span style="font-family: 'Cambria','serif';">Identification with Individual Needs || media type="custom" key="23111512" ||
 * <span style="font-family: 'Cambria','serif';">Humor || media type="custom" key="23111518" ||
 * <span style="font-family: 'Cambria','serif';">Need for Change || media type="custom" key="23111530" ||
 * <span style="font-family: 'Cambria','serif';">Identification with Global Need || media type="custom" key="23111552" ||
 * <span style="font-family: 'Cambria','serif';">We are better than ever || media type="custom" key="23111572" ||
 * <span style="font-family: 'Cambria','serif';">Band Wagon || media type="custom" key="23132348" ||
 * <span style="font-family: 'Cambria','serif';">Fear || media type="custom" key="23132356" ||
 * <span style="font-family: 'Cambria','serif';">Celebrity Endorsement || media type="custom" key="23111618" ||

<span style="font-family: 'Baskerville Old Face','serif'; font-size: 19px;">Learning Targets/State Standards:


 * <span style="color: black; font-family: 'Cambria','serif'; font-size: 27px;">Standard D: Economics **


 * <span style="color: black; font-family: 'cambria','serif'; font-size: 27px;">D.8.2 Identify and explain basic economic concepts: supply, demand, production, exchange, and consumption; labor, wages, and capital; inflation and deflation; market economy and command economy; public and private goods and services.
 * <span style="color: black; font-family: 'cambria','serif'; font-size: 27px;">D.8.7 Identify the location of concentrations of selected natural resources and describe how their acquisition and distribution generates trade and shapes economic patterns.

<span style="color: black; font-family: 'Trebuchet MS','sans-serif'; font-size: 13px;">

__//**<span style="color: black; font-family: 'Trebuchet MS','sans-serif'; font-size: 13px;">Overall Project Grading/Final Assessment: **//__ <span style="color: black; font-family: 'Trebuchet MS','sans-serif'; font-size: 13px;">Target: Students participate in the Riverview Market and showcase a product to sell to their peers.
 * Item || 4 || 3 || 2 || 1 ||
 * Develop a Product || Student develops an outstanding product that is original and innovative. || Student develops a product that is original. || Student develops a product that could be improved. || Student did not develop a product. ||
 * Advertisement || Advertising technique or approach is clear and is done in an outstanding way. || Advertising technique or approach is clear. || Advertising technique or approach is unclear. || Advertising technique or approach is missing. ||
 * Set-up of Booth || Outstanding work! Booth is attractive and clean. || Booth is neat and clean. || Booth set-up needs improvement. || Set-up is missing or needs an overhaul. ||
 * Business Plan || Business planning was complete and detailed. Student accurately explored supply, demand, and price. || Business planning is complete. Student explored supply, demand, and price. || Business planning needs improvement. Student needs to improve exploration of supply, demand, and price. || Business planning is incomplete. ||
 * Realistic Expectation of outcomes || Student used logic and guidance in an effective way for success in the market by adjusting price during market selling. || Student used logic and guidance to plan for the market by adjusting price during market selling. || Students’ use of logic and guidance could be improved during market selling. || Student did not have a realistic expectation of outcome during market selling. ||
 * Organization of Materials and Time || Students balanced time and kept materials organized to perform outstanding during their assigned market time. || Students balanced time and kept materials organized to perform during their assigned market time. || Students could improve balanced time and kept materials organized to perform well during their assigned market time. || Time and materials were not organized. ||
 * Sales Etiquette || Students conduct themselves in an outstanding manner in terms of attitude, appearance, and interactions with others. || Attitude, appearance, and interactions with others were all acceptable. || Attitude, appearance, and interactions with others need improvement. || Attitude, appearance, and interactions with others were unsatisfactory. ||

/ 7 Convert to 4.0 Scale out of 100 points

<span style="color: #000080; display: block; font-family: georgia,serif; font-size: 19px; text-align: left;">[|'Goods and Services' Brain Pop video]

<span style="color: #000080; display: block; font-family: georgia,serif; font-size: 19px; text-align: left;">Supply and Demandmedia type="custom" key="12293292" until 3:07media type="custom" key="12293304"until 2:40

<span style="color: #000080; display: block; font-family: georgia,serif; font-size: 19px; text-align: left;">Inflation & Deflationmedia type="custom" key="12311264"

<span style="color: #800080; display: block; font-family: arial,helvetica,sans-serif; font-size: 70%; text-align: left;">Wisconsin State Social Studies Standard: EconomicsD.8.2 Identify and explain basic economic concepts: supply, demand, production, exchange, and consumption; labor, wages, and capital; inflation and deflation; market economy and command economy; public and private goods and services