In this blog we will tell you a little exercise that we conducted in Year 6 (Year 5 do it as well) that developed the maturing mind into the world of business following our annual 'Enterprise Day'. The principle idea was based around how a simple ‘supply and demand’ set up works and how the different components have to respond in a changing market!
The set up:
Producers-these were making masks (the factory floor) and they had to stay in the same place, taking information from the…
Distributors-these could move around and communicated information to the producers about what needed to be made (e.g. masks with pink dots on). This information came from the…
Shopkeepers-these were based away from the producers and found out the latest trends and demands from the…
Consumers (these were the adults!). We started slowly with our demands but then added more complex issues to see how the system reacted e.g. time constraints, high numbers. The game was great fun and key lessons were learnt.
Quotes from Y6 pupils:
Rohan (Producer) – ‘Negotiate wherever possible-never accept the first offer!’
Ainsley (shopkeeper) – ‘Make sure that your selling price is more than the cost that you bought it! We sold masks but kept on eating into any possible profit.’
Mr Greg Wilde | Year 6 Teacher & MP3 Assistant Leader