Mrs. Skiba's class learned about economics by creating their own products!
3rd Grade Spotlight: Mrs. Skiba's Class
Written By: Mike, Elliott, and Isabella
Typed By: Mrs. Gauthier
We are in Mrs. Skiba's third-grade class and we have been working on making our own products. A product is something that someone makes and is trying to sell. So basically you just make something that you think someone might buy. We had some materials in class we could use, 3 Doodler Pens, cardboard, tape, string, paper, foam, pipe cleaners, and cotton balls. If you don't know what a 3 Doodler Pen is, we can explain that. It is like a pen but it has plastic in it that melts when you press a button. Then the melted plastic comes out and you can make your own design.
We drew our design on a piece of paper and then went around the room and explained our ideas to each other. If we found someone else with a similar idea, we became their partner. There was one group of three and the rest were groups of two.
Once we were with our partner, we collected our materials and made our product. We did not have a limit. It took like three or four days to finish our product. There were a lot of failures along the way! Some groups kept running out of time, so they had to change their design. Other groups had products that didn't stay together. There wasn't enough cardboard for everyone. It was gone at the end. That's ok! We figured it out and kept trying.
Once our product was done, we had to pick a price. It was hard to decide for some groups what price the product should be because they didn't want it to be so expensive that no one would buy it or too cheap that they wouldn't make money. The cheapest product was $3 and the most expensive was $8. $8 was the highest we were allowed to go. The price depended on the materials. The 3D Doodlers cost a lot so we had to put a higher price on the product if we used them.
When we were done with our product, we did a little advertisement for Ms. Liethen's class. We shared our names, what our product would be useful for, and our company name. We did a Call To Action, which is something that will encourage someone else to buy something. For example, "Get off the couch and come get this product." Then everyone was supposed to have 8 stickers. After we did our advertisement, everyone walked around the room and put their stickers on a piece of paper if they wanted to purchase that product. So, if a product cost $3, they were supposed to put 3 stickers on the paper until they used all of their stickers.
What did we learn?
- Do not price a product too high because no one will buy it.
- Do not make your product too detailed because you won't have time to finish.
- Do not make your product too small because it will break easily.
- Teams that work together do better.
- The girls tended to purchase the jewelry the most.
Economics was awesome and exciting! Now, some of us want to make products for real!