Trade is based on a human’s capability to assess, price and market a product. Conducting trade is a skill that helps develop the intellect and willpower of an individual. It is a positive thing to teach children to trade and have children learn to do business at an early age. Teaching children to trade does not only help them to become independent and confident, but also makes them aware of their community.
In the unit of inquiry, ‘How We Organize Ourselves’, Grade 3 students organized a mini-bazaar last as their summative task. The central idea of the unit was “marketplaces rely on the production and distribution of goods and services”.
The learning objectives of organizing the mini-bazaar are as follows:
- Develop an awareness of different perspectives and ways of organizing economic activities
- Develop a list of criteria for ethical practices regarding products and services
- Explain how supply and demand are affected by population and the availability of resources
- Identify roles, goals, rights and responsibilities in society
- Learn to make a profit from their business venture
- Train students to be entrepreneurs
For this task, students were divided into four to five groups in each class. To prepare the mini-bazaar, teachers and students talked about what the students were going to sell. Students also decided on the prices and discussed their roles and responsibilities in the group, such as who would be the leader and cashier during the event.
To raise the capital, the students collected money by doing household chores for about a month prior to the mini-bazaar. Getting involved in household chores is one way the students can learn how to earn money and be responsible. After earning enough money, students used the money to buy the items to sell.
In order to support the event, teachers asked for parents’ assistance in preparing the items that the students were going to sell. One day before the mini-bazaar, the students were very enthusiastic in preparing their booths, including putting prices on the items.
Students preparing their booth decorations
Students named their booths creatively. They came up with interesting names for their booths, such as “Funny in My Tummy”, “Fun in Wonderland”, and “Amazing Surprise”.
When the big day finally arrived, the mini-bazaar was held from 7.30am until 1.00pm. Teachers, staff, parents and students from other grade levels, including middle school and high school students came and supported the event.
Teachers, parents, and students at the opening of the mini-bazaar
In total, there were 18 student booths offering a big variety of things for sale. Healthy snacks, fresh juices, and handicrafts were some of the items sold by the students. Students also came up with educational games for their booths.
The parents and students worked together to serve the customers. Several students walked around to entice customers to visit their stalls, while others preferred to wait in their booths for buyers.
After the mini-bazaar, parents and students went back to the classroom to count the money. The students received their capital back and divided the profit equally among the group members.
The event was successful! The students were so excited leading up to the event and had a great time organizing their mini-bazaar. Some of the lessons learnt by the students were marketing strategies, dealing with customers, earning money, saving money and managing money. The mini-bazaar will be an essential part of the students’ learning experiences in Grade 3.
By: Eka Fridayanti
Grade 3 Co-Teacher
BINUS SCHOOL Simprug