You’re Hired!!

You’re hired. Mr. Trump is challenging you to start your own business.  He heard fourth graders are good with economics and wants to see if you can live up to his expectations.  So, you need to start your own business-What will it be?  What do you need to get started?  Well, one thing is for sure, you will need a good understanding of economics to get your business going.  In order to do that, you need to research some of the aspects of economics.  For example, how many supplies do you order?  You don’t want to order too many, in case that item is not in demand.  How about banking?  You need to understand all that too!!  You have an exciting, but challenging job ahead of you, so get started, and best of luck!!

Resources: 

Use the internet for your research.  Some sites to use are: 

Kids Bank:  http://kidsbank.com/index_3.asp

Social Studies for Kids:  (Goods and Services) http://www.socialstudiesforkids.com/articles/economics/goodsandservices1.htm

Social Studies for Kids:  (Credit)

http://www.mcwdn.org/ECONOMICS/Credit.html

Make ‘Cents’ of Economics:

http://its.guilford.k12.nc.us/webquests/economics/economics.htm

Econopolis:  http://library.thinkquest.org/3901/?tqskip=1

Moneyopolis:  http://www.moneyopolis.com/new/home.asp

 Task: 

You will be creating your own commercial and slogan for your business.  You will also be creating a help wanted ad for your employees and a way to pay them.   You also need to make a collage of goods and services.  

Process: 

1.    Look for your name on the Group list to find out what group you are in.  Miss Corby has this list and has already put you in groups.    

2.    Find out the relationship between goods and services.  How can these two things play a role in your business?  Why do you need to understand what they are? 

3.    Why is it important to save money and have a budget for your business?  What can help you earn money if you have a lot of money in the bank? (This requires you to do nothing) 

4.    Use magazines to cut pictures out and make a collage of goods and services that your business will be using. 

5.    What is your business?  How are you going to make it noticed?  Using the computer, create a sign for your store/business that would make people want to come in. 

6.    With your group, create a commercial that you could use on the air to attract customers to your store/business.  You will be acting in front of the class and they will give you feedback based on what they saw. Come up with a slogan that everyone will remember that would make your consumers want to have your good or service. 

7.    How many employees will your business need?  Create a “Help Wanted” ad for a newspaper that would include what kind of employees you need, and what their duties would be. 

8.    The people you are hiring need to make money.  How much do you plan on paying them?  How many hours a week will they be working for you?  How much money is this all together, that you will be paying them, at the end of one week? 

What do you think? 

Now that you have done SOME of the research to find out about opening your own business, do you still want to do it?  What do you think the most difficult part of running your own business would be?  What do you think you would enjoy most?  Why?

Evaluation:

You will be evaluated after each task.  The items that are worth the most are the commercial, the “Help Wanted” advertisement, and the goods and services collage.  These 3 things will be counted as a test grade.  The other tasks will be counted as homework assignments.  Be as creative as you can, and you will amaze yourself!