Paramount Charter Academy students learn the ins and outs of business at market fair (with photo gallery)

Kalamazoo Gazette
2/3/2012

Paramount Charter Academy students learn the ins and outs of business at market fair (with photo gallery)

Friday, February 03, 2012
KALAMAZOO - Fifth-graders at Paramount Charter Academy in Kalamazoo learned the value of a dollar and the benefits of a good sales pitch during their market fair on Friday.

The students were put into groups of two or three to come up with a product or service, make the product, decide a price for the product and come up with a sales pitch to sell their goods.

"It was all a part of Mr. Kramer's econ unit for his social studies class. These are all his students," said Kathleen Grinwis, the principal at Paramount Charter Academy while receiving a massage she bought from Jalen Huntley, 10.

Students came up with products ranging from baked goods to "Toastys" homemade heat packs. Others provided services such as nail painting, back massages and games to play. They decorated their booths with signs, price lists, streamers and pictures. Some groups even played music to attract potential customers.

"We've been preparing for about a month. The kids learned everything from the basics of being producers and consumers to the market system," said Kramer. "I figured, what better way to learn than making them do it all hands on?"
Kindergartener Cecylia Dorow smiles after shopping at the
Paramount Charter Academy Market Fair held by the school's fifth graders.
 
Classes from other grade levels were invited to purchase the goods and services from the fifth-graders with cash or Panther points, a currency system used by the students at Paramount Charter Academy.

"We learned how to count money and give back change," said Rebecca Taplin, 10. Taplin sold hand-sewn organizers, bookmarks and hair ties with her twin sister Kylie.

The students spent their own money to make the products they created to sell and are allowed to keep all profits that they make.

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"The best lesson I've learned is that little kids are suckers. They'll buy anything," said Deondre Worthy, 12.

"If you lower prices more people will pay for stuff," said Makaila Clapp, one of Deondre's group mates. Clapp and Worthy negotiated prices with the kindergartners in order to sell more goods.

The students listed a wide range of skills they learned from their efforts from counting change to bartering to learning to sew, but most said they were most enthused by the money they were making.

"Business is hard work," said Michael Loretto, 10, who sold drawings he created himself. "I'm just going to be a paleontologist."
 
 
 
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