Local students learn supply & demand in 'Market Madness' - KLTV.com - Tyler, Longview, Jacksonville |ETX News

Elementary students take part in Market Madness

CLIFTON, OH (FOX19) -

One thousand students from 14 local elementary schools came together on the University of Cincinnati (UC) campus on Wednesday to market their school-made products and services.

It was an exercise that offered hands-on experience in dealing with supply and demand, and there's a reason they call it 'Market Madness'. 

Hundreds of area students, packed inside UC's recreation center, buying and selling their products.

Pleasant Ridge Montessori 4th grader, Clifford Gayle, said the most important element is advertising.

"Come and buy our banners and pennants, banners and pennants! Come to the marvelous makings of banners and pennants!" he exclaimed.

Hannah Wardlow, a 3rd grader from Kilgore elementary, carried a poster advertising hair accessories.

"We're selling berets, pins and headbands, and they're made out of felt and duct tape," said Warlow. 

All the products were made out of recycled materials by the students themselves.

Pat Schroeder, a 3rd grade teacher at Kilgore elementary, said her students get a hands-on lesson in how the marketplace of goods and services really works.

"They're learning how to market their product which they designed on their own, and then price it, depending on their supply and demand," said Schroeder.

Goods and services were paid for with virtual money from a debit card the kids carry with them, but as Kilgore 3rd grader Sophia Cotton-Riker explained, the products are not cheap.

"The berets are $35, the pins are $40 and the headbands are $50," explained Cotton-Riker.

The marketplace can be complicated for even adults to understand, but Julie Heath with UC's Economics Center said the kids can learn a lot just by doing.

"If you try to teach children or adults about how a market works, but you just talk to them about it, it doesn't have nearly the impact as when they experience the market," said Heath.

Clifford Gayle said he's learned that survival in the marketplace is a lot harder than it looks.

"Some people, like, just walk right past you, and they don't really notice you, so sometimes you have to like not get in their face, but you have to try to get their attention," explained Gayle.

Event organizers said it's not only important that the kids learn a little something about finances, but they had a good time doing it.

The students were also given a tour of UC's campus to give them an idea of what college is like and as something to aspire to.

Copyright 2013 WXIX. All rights reserved.

  • Elementary students take part in Market MadnessMore>>

  • NewsMore>>

  • BREAKING

    Tyler teen injured in overnight shooting identified

    Tyler teen injured in overnight shooting identified

    Thursday, July 20 2017 8:50 AM EDT2017-07-20 12:50:48 GMT
    Source: KLTV staffSource: KLTV staff

    A 13-year-old is hospitalized with gunshot wounds after a shooting early Thursday in Tyler.

    More >>

    A 13-year-old is hospitalized with gunshot wounds after a shooting early Thursday in Tyler.

    More >>
  • BREAKING

    Tyler woman injured after being intentionally struck by vehicle, suspect in custody

    Tyler woman injured after being intentionally struck by vehicle, suspect in custody

    Thursday, July 20 2017 8:15 AM EDT2017-07-20 12:15:16 GMT

    A Tyler woman is injured and the suspect is in custody after police say the victim was intentionally hit by a vehicle after an altercation at a night club.

    More >>

    A Tyler woman is injured and the suspect is in custody after police say the victim was intentionally hit by a vehicle after an altercation at a night club.

    More >>
  • Dez Bryant to visit Lufkin; Former Panther Keke Coutee doing Dez things in college

    Dez Bryant to visit Lufkin; Former Panther Keke Coutee doing Dez things in college

    Thursday, July 20 2017 12:15 AM EDT2017-07-20 04:15:19 GMT
    Coutee celebrates Dez Bryant style during 2016 season.Coutee celebrates Dez Bryant style during 2016 season.

    Before the Cowboys report to training camp in Oxnard, California on Saturday, it appears wide receiver Dez Bryant wants to have some fun in his hometown. On his official Facebook page on Wednesday, Bryant said he will be in Lufkin Thursday and is bringing barbecue.

    More >>

    Before the Cowboys report to training camp in Oxnard, California on Saturday, it appears wide receiver Dez Bryant wants to have some fun in his hometown. On his official Facebook page on Wednesday, Bryant said he will be in Lufkin Thursday and is bringing barbecue.

    More >>
Powered by Frankly