Local students learn supply & demand in 'Market Madness' - WSFA.com Montgomery Alabama news.

Elementary students take part in Market Madness

CLIFTON, OH (FOX19) -

One thousand students from 14 local elementary schools came together on the University of Cincinnati (UC) campus on Wednesday to market their school-made products and services.

It was an exercise that offered hands-on experience in dealing with supply and demand, and there's a reason they call it 'Market Madness'. 

Hundreds of area students, packed inside UC's recreation center, buying and selling their products.

Pleasant Ridge Montessori 4th grader, Clifford Gayle, said the most important element is advertising.

"Come and buy our banners and pennants, banners and pennants! Come to the marvelous makings of banners and pennants!" he exclaimed.

Hannah Wardlow, a 3rd grader from Kilgore elementary, carried a poster advertising hair accessories.

"We're selling berets, pins and headbands, and they're made out of felt and duct tape," said Warlow. 

All the products were made out of recycled materials by the students themselves.

Pat Schroeder, a 3rd grade teacher at Kilgore elementary, said her students get a hands-on lesson in how the marketplace of goods and services really works.

"They're learning how to market their product which they designed on their own, and then price it, depending on their supply and demand," said Schroeder.

Goods and services were paid for with virtual money from a debit card the kids carry with them, but as Kilgore 3rd grader Sophia Cotton-Riker explained, the products are not cheap.

"The berets are $35, the pins are $40 and the headbands are $50," explained Cotton-Riker.

The marketplace can be complicated for even adults to understand, but Julie Heath with UC's Economics Center said the kids can learn a lot just by doing.

"If you try to teach children or adults about how a market works, but you just talk to them about it, it doesn't have nearly the impact as when they experience the market," said Heath.

Clifford Gayle said he's learned that survival in the marketplace is a lot harder than it looks.

"Some people, like, just walk right past you, and they don't really notice you, so sometimes you have to like not get in their face, but you have to try to get their attention," explained Gayle.

Event organizers said it's not only important that the kids learn a little something about finances, but they had a good time doing it.

The students were also given a tour of UC's campus to give them an idea of what college is like and as something to aspire to.

Copyright 2013 WXIX. All rights reserved.

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