Objective

By the end of this lesson, the student will understand the basic concepts of enterprise in a free market and how businesses operate to provide goods and services. The student will also learn about the importance of making choices and how they can start their own small business idea!

Materials and Prep

• Paper and crayons or markers
• Play money (can be made from paper)
• Small items to "sell" (toys, snacks, etc.)
• Space to set up a "market"

Before the lesson, prepare a small area where the student can set up their "market" with the items they want to sell. Make sure to have some play money ready for transactions.

Activities

• Market Setup:

  The student will create their own market by arranging items they want to sell. They can use their toys or snacks and decide on prices using play money. This helps them understand how products are offered in a market.

• Role Play as Buyers and Sellers:

  The student will take turns being a buyer and a seller. They will practice asking for prices, negotiating, and making purchases. This activity teaches them about transactions and the role of money in a market.

• Drawing a Business Idea:

  The student will draw their own business idea on paper. They can create a logo and write down what they would sell. This encourages creativity and helps them think about what makes a good business.

Talking Points

• "What is a business? A business is something that sells things or provides services to people!"
• "In a free market, people can choose what they want to buy or sell. Why do you think that is important?"
• "When we set prices, we decide how much our items are worth. What will you charge for your toys?"
• "If you were a customer, what would you look for when buying something? Quality, price, or something else?"
• "Why do you think people start their own businesses? To make money and share their ideas!"
• "Can you think of a business you would like to start? What would you sell?"