Week Four

We covered supply and demand this past week in Economics.  Several days of activities and notes and my students were full of information.   With that said....I had them prove it on Friday with a simulation.  Actually a very addicting computer game at the website http://www.lemonadestandgame.com/ .  The concept is simple.  Each student has 30 days to sell as much lemonade as possible.  They start with $20.00 and need to buy lemons, ice, cups and sugar.  The next step is to figure out the mix of ingredients that they think will work, set the price, then press go.  Customer satisfaction and varying weather conditions result in students needing to factor in other variables besides price.  After each day they also have the opportunity to replenish their supplies and change the price accordingly.  At the completion of 30 days they print out their income statment and hand it in for me.  I ask for two completed income statements where a profit was made.  They can play as many times as they like outside of class and the student with the highest profit and the end of next week will be crowned the "Lemonade Stand King..or Queen".  That means they get a t-shirt from me!

This simple game really does do a good job reinforcing all the notes/activities that we learned in class.