Mrs. Gibson’s third grade class at West Main Elementary has had a great time learning about economics lately. They began their unit hearing from some fantastic businesses that are in Ravenna. Workers from Guidos, Myer’s Appliance and I’MPOWER Fitness Center all sent in videos about their businesses and the goods and services they produce. Their videos even educated the students on some common economics terms such as supply, demand, producer, consumer, goods, services, marketing and budget! As the unit continued, students began producing their own products. They could choose to sell paper airplanes, fortune tellers, greeting cards or bookmarks to their classmates. They created business plans and were given budgets and deadlines to meet. Once their shops opened up, each student was given 5 Gibson Bucks to spend at their classmates’ stores. This experience quickly showed students real life examples of supply and demand, profits and advertising. Mrs. Gibson has a lot of future entrepreneurs in her classroom!
