Economics Fair coming on March 13th! :D Here are the requirements and timeline. Please help your child stay on top of the creations as we stay on top of learning economic concepts and business terms and smarts. There is a vocabulary list of terms the students are responsible for learning that went home work the packet; however, I will work on uploading those online too.

Economics Fair Project Timeline

February 21 – Business Plan due.  Teacher and parent approval required.  

March 8 and 11 – Students will create a persuasive advertisement for their product or service in class.  Advertisements will be displayed in the consumers’ class so that shoppers can plan and budget for their purchases.

March 13 – Items and materials to sell due in class.

March 15 – Vocabulary quiz

Third Grade Economics Fair

In Social Studies third graders are studying economics.  Students are working on the concepts of a free enterprise system and learning new vocabulary.  On March 13, 2019, students will participate as consumers and producers in an economics fair. Each student will create their own business plan to create or resell products or provide a service.  Students will not have a lot of space to sell their goods or service. They should plan to have the space of their desk to use as their work space. Students will run their shops without parent assistance on the day of the fair.  

First, your child will need to think of a product to sell or a service to provide.  They will need to create their Business Plan. The Business Plan form is due on Friday, February 21, 2019.  Please encourage your child to use inexpensive resources that are readily available. The lower the cost is, the higher the profit will be.  All items or services should be priced to sell for $1 to $10 in even dollar increments. Consumers will be given $10 in play money to spend on products.  Students will get to keep the items that they buy. We will sell to and buy from Mrs. Miller’s class.

Attached are the Business Plan and a vocabulary list that they should review at home.  We will be studying these words in class, but students should be using them as they create their business.  We will reflect on our successes/failures as producers and consumers after the economics fair. We will also have a vocabulary quiz March 15, 2019.

We hope that this will be a fun and educational experience for your child.  Thank you for your support in this endeavor. If you have any questions, please ask.

Thank you!!

Mrs. Ory

Economic Fair Ideas        

Please keep in mind that the following items are not allowed:  hair color, silly string, slime, nail polish, food, or weapons of any kind.  Please ask if you have questions regarding permitted items or services.

Examples of products and/or services:

1. Goods to resell (You buy something, keep track of cost for expenses, set a price to sell.  Your profit is the difference between what you sell it for and what you spent for it.):  
   

• pencils
• pens
• erasers
• stickers
• small toys
• water bottles
• used books
• hair clips
• headbands
• candles
• balloons
• bookmarks
• key chains
• stress balls
• trading cards
• plants
• pet rocks

2. Created products (You buy materials and create something to sell.  Your profit is the difference between what you sell it for and what you spent for materials.):  
   

• homemade stationary or cards
• friendship bracelets
• loom band bracelets
• duct tape crafts
• bookmarks
• decorated pencils
• journals
• washer bracelets on ribbon
• pet rocks
• puzzles
• masks
• origami
• artwork
• flowers
• decorated flower pots
• picture frames

3. Services (You purchase any required materials and sell a service.  Your sales minus your material cost is the profit. Services should last no more than 2-3 minutes.):  
   

• tattoos
• hair design
• jokes
• desk cleaning
• balloon animals
• caricature
• custom artwork
• etc.