Friday, December 2, 2011
Daily December 2: 4th grade economics
Miss E is in 4th grade and had a test in social studies this week. It was on economics--really? I thought, in 4th grade? It was very basic, but I thought a lot of people in this country could use this basic economics lesson. We have a free enterprise economic system that is run by supply and demand. Profit is only made after you subtract all your operating costs, and there is an opportunity cost for every decision you make. We need to be wise producers and consumers. The lesson also talked about the early U.S. economy which was just based on bartering, like trading fur pelts for food. After studying Miss E said, "I think I would just like to go back to bartering." Maybe that is the answer to our economic crisis and all the debates. Lessons to learn from the textbook and thoughts of a 9-year-old.