Nowadays the importance of being economically literate is undeniable. That is why the students are taught the basics of economics at school. We have to agree though that sometimes learning the theory is no fun and does not have the desirable results. The teacher of economics has thought of a good way to present one fun activity to make students understand the basics of trading more easily. The teacher and the students play a game during the lessons of economics. They pretend that they produce a toy and sell it. During the lesson the students learn how to calculate the cost of the production and the profit. You can only imagine how fun it is for the students to see how big their profit would be.
Toy production
The task:
Step 1: Divide the students into teams-"enterprises". Choose one member of a team who will be responsible for bookkeeping and one team member who will be responsible for the presentation of the toy which has been produced.
During 15-20 minutes your enterprise has to make one toy which will be sold for 5 €. In order to make the toy, you have to use at least 3 items from the list (the list the production resources cost). The toy has to be durable and of good quality. The members of the enterprise have to prepare a short presentation of the product. Calculate the cost of the toy production. (Mark the data in the list provided).
Step 2: The enterprise gives a brief presentation of the product and puts it next to the other products on the table.
Step 3: Every student has 5 € each. They put the money next to the toy they would buy.
Step 4: Calculate the profit of the enterprise.
The list of the production resources cost:
Resources
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Cost
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Used resources for toy production (mark how many units have been used)
|
The cost of used resources
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Workforce
(1 employee )
|
0,25
|
||
Workplace rent
|
0,70
|
1 table
|
0,70
|
Glue pen
|
0,30
|
||
Colour pen/ marker
|
0,20
|
||
Scissors
|
0,40
|
||
Plastic plate
|
0,30
|
||
Colour paper
1 sheet
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0,10
|
||
Plastic glass
|
0,30
|
||
Sticky note (small)
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0.10
|
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Sticky note (big)
|
0,20
|
||
Drawing pins different
2 pins
|
0,10
|
||
Envelope
|
0,10
|
||
Paper clips
2 paper clips
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0,10
|
||
Paper napkin
|
0,10
|
||
Sticky tape
|
0,40
|
||
Sponge
|
0,50
|
||
Cotton disks, 2 units
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0,10
|
||
Pencil
|
0,10
|
||
Toy production cost
|
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PROFIT FOR ONE TOY
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GROSS PROFIT
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