Objective

By the end of this lesson, RR will understand basic concepts of economics and business, including supply and demand, the role of money, and how businesses operate. RR will also engage in fun activities that promote creativity and critical thinking in these areas.

Materials and Prep

• Paper and colored pencils or markers
• Play money (can be drawn on paper if necessary)
• Items for a mini-market (toys, snacks, or household items)
• Timer (optional for games)
• Space to set up a mini-market

Before the lesson, it’s helpful to think about what types of businesses RR might be interested in, as this can guide the activities and discussions.

Activities

• Mini-Market Simulation

  Set up a mini-market where RR can be both the seller and the buyer. Use play money to buy and sell items. Discuss pricing strategies and how supply and demand affect prices.

• Supply and Demand Game

  Play a game where RR can create a product and decide how much to sell it for. Discuss how many people want to buy the product (demand) and how many products are available (supply).

• Draw Your Business

  Have RR design their own business. They can draw what it looks like, what they sell, and how they would advertise it. This helps them think creatively about business concepts.

• Money Management Challenge

  Give RR a certain amount of play money and ask them to decide how to spend it wisely. Discuss the importance of saving versus spending.

Talking Points

• "What do you think a business does? A business helps people by providing goods or services!"
• "Have you ever wanted to buy something but found it too expensive? That’s supply and demand at work!"
• "Why do you think some items are more expensive than others? It’s because of how many people want them!"
• "If you were to start a business, what would you sell? Think about what people need or want!"
• "Why is it important to save money? Saving helps us buy bigger things later!"
• "What happens if a lot of people want the same thing? The price might go up because it’s in high demand!"
• "How can we decide how much to charge for our products? We need to think about how much it costs to make them!"
• "What do you think makes a good advertisement? It should be fun and tell people why they need your product!"