Economics, Multiplication, and more...

  

Economics - Last week we started our study of economics. We started by reviewing needs and wants. The students were very familiar with these concepts and had great discussions about how to classify various things as wants and needs. We then explored goods and services. Again, we sorted things into these two categories and even went on to discuss the difference between public and private goods and services. The students then used their knowledge to rebuild a ghost town. They created a map for their ghost town and made decisions about what goods and services they would place there. Many of them took great pride in designing their town and made very purposeful and thoughtful choices.

Tomorrow we will be heading to The Candy Factory in downtown Columbia to see how their business in action. They will explain and demonstrate how they produce, price, and sell their products. We are so excited for this visit and hope to learn a great deal!

In math, we are continuing to practice our larger multiplication skills in a variety of ways. Today the students became proud owners of their very own junkyard.  They were provided a set number of cars and had to calculate how many of various parts resided in their junkyard.  For example, if they had 542 cars in their junkyard and each car has four tires, they would have 2,168 tires available for sale. They then calculated the possible income for selling each of their tires. For example, if each tire sold for $8, they would make a profit of $17,344. They seemed to enjoy this project and did a fabulous job calculating accurately.  Please know your child has learned a variety of multiplication strategies, but they are allowed to use any strategy as long as it is efficient and accurate. Please continue to work on all math facts at home.