If the previous lesson, Building a Business, was not used you need to:
- Place students into groups.
- Develop a product list with wholesale prices for students to choose from.
- Give groups a budget of $500 which they can use to purchase
products and advertising materials (see materials list for suggested
- Have students determine selling prices for
- Allow students time to create advertising materials to be used at
their store (You may want to create a poster template for students to
use to decorate their store and advertise their products and specials).
Give students time to set up their store in the section they have
rented. Break each group into two selling teams. Explain that this
allows at least one selling team to be available to sell the group's
products, while the other selling team can be out spending the $200 on
their debit cards.
Explain that groups need to keep track of all business transactions that occur. Using the Savvy Sellers Activity Sheet, students will keep track of the money that is collected
from each student, in addition to how many products they have sold.
Businesses may not sell more products than their store has originally
had, unless they had extra money in their original budget set aside for
Savvy Sellers Activity Sheet
In addition to the business writing down their sale for their own
records, a worker must write on the customer's debit card: the name of
the store, what was purchased, the amount of money it cost, and how
much money is left on the customer's debit card.
Give each student a My Debit Card Activity Sheet and announce that "Selling Team #1" will be remaining at
their business, while "Selling Team #2" goes shopping at the other
businesses. Students do not have to buy the same items as their team members;
buying is an individual activity. Give students five minutes, and then, have "Selling Team #1" go shopping while "Selling Team #2"
remains at their businesses.
My Debit Card Activity Sheet
Any money that is left on the student debit cards will be added up
at the end and divided evenly among the groups. You may have a student
group who finishes early complete this task, or have each group share
the amount of money that was left on their debit cards. To do this, write the leftover amounts on the board, and have the students figure out how much money should be
given to each group (by adding up the numbers and then dividing by the
number of groups). Have students notice that the amount of money each
group gets is also the mean of the amounts of money that each group had
Have students work together to answer Questions 1 and 2 on the Were
you a Moneymaker? Activity Sheet. Students need to determine how much
money was collected during the selling phase, and then, subtract all of
their costs (less than or equal to $1,000). The group with the highest
profit will be declared "The Money Makers!"
Have students complete the Were you a Moneymaker? Activity Sheet individually. Discuss questions 3–5 as a class. Discussion suggestion: have students stand or sit in a circle around the
perimeter of the room, and pose question #3. Use a soft ball to toss to
a student who then says his/her answer. This student then tosses the
ball to another student who shares his/her answer and so on. Continue
for questions 4 and 5.
Were you a Moneymaker? Activity Sheet
Questions for Students
1. What are the different ways businesses use math?
[They use math to predict or determine costs, profit, appropriate salaries, etc.]
2. What are some real-life situations you considered as you worked on this project?
[Answers will vary, but may include: how real businesses
price their products, how much it costs to start a business, where
people get the money to start a business, etc.]
3. What does it mean to be a smart consumer?
[To get the best price for a desired product.]
- What were some of the ways that students illustrated that they were
actively engaged during the project? Did students seem more actively
engaged in other parts of the project than others? Why do you think
- What worked with classroom behavior management during the selling
phase? What didn't work? How would you change what didn't work?
- Do you feel your high achieving students were challenged during the
project? If not, how could you adapt this project in the future?
- Apply previous learning involving pricing a product, creating an advertising campaign, and selling a product.
- Apply and adapt a variety of appropriate strategies to solve problems.
- Use problem solving skills and number sense to become smart consumers.
- Monitor and reflect on the process of mathematical problem solving.
- Develop number sense.
NCTM Standards and Expectations
- Develop and use strategies to estimate the results of whole-number computations and to judge the reasonableness of such results.
- Select appropriate methods and tools for computing with whole numbers from among mental computation, estimation, calculators, and paper and pencil according to the context and nature of the computation and use the selected method or tools.
- Develop and use strategies to estimate the results of rational-number computations and judge the reasonableness of the results.
Common Core State Standards – Mathematics
Grade 4, Measurement & Data
Use the four operations to solve word problems involving distances, intervals of time, liquid volumes, masses of objects, and money, including problems involving simple fractions or decimals, and problems that require expressing measurements given in a larger unit in terms of a smaller unit. Represent measurement quantities using diagrams such as number line diagrams that feature a measurement scale.
Common Core State Standards – Practice
Make sense of problems and persevere in solving them.
Model with mathematics.
Use appropriate tools strategically.
Look for and make use of structure.