Activity 01
Market Day Simulation
Half the class acts as producers with a specific 'product' (e.g., paper planes) and the other half as consumers with 'currency.' They must negotiate prices based on quality and demand, then swap roles.
Analyze the incentives driving the behavior of a business owner versus a shopper.
Facilitation TipDuring Market Day Simulation, circulate with a clipboard to note which students price too high and redirect them to observe how quickly 'consumers' walk away from unattractive offers.
What to look forProvide students with a scenario: 'A new cafe opens across the street from an existing cafe.' Ask students to write two sentences explaining one potential benefit and one potential cost for the existing cafe owner, and one sentence explaining why a new customer might choose the new cafe.