The Grade 4 students participated in a barter activity today.
They all started with 5 plastic chips that were the same color. The plan was to trade plastic chips with classmates so they had one of each of the 5 colors.
Some students found it very easy. These students started with Green and Red plastic chips. There were only a few people with these colors and their product was scare. They had no trouble finding people to trade with.
Other people had a harder time trading and could not get all 5 colors. They started with a color that was more abundant. There were many people who started with pink. They had trouble moving their product because there were so many the same on offer.
The students also watched a short fable called the Crow and the water pitcher. They thought about the moral to the story and discussed how the crow used Stones (natural resources), Labor (picked up stones) and new ideas to solve the problem.
The students came up with class definitions for scarcity and thought about supply and demand.
What products are in abundance in the market and are sold very cheaply? Bananas, rice, mangoes
Products that are rare and are very expense? Artwork, Brand shoes - limited edition items
No comments:
Post a Comment