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Future capitalists at work!

Like the carnival barkers of yesteryear, Alex Mazurek advertises his little figures with sombreros. (click for larger version)
June 09, 2010 - It was capitalism in its purest and finest form as Clear Lake Elementary's 90 fourth-graders conducted an Economic Fair June 2 that would have made Ayn Rand proud.

The school cafeteria was turned into a hustling, bustling marketplace as the fourth-graders attempted to sell various products to students from other classes.

"The purpose of the Economic Fair was for students to participate in starting their own business and to produce a product to sell," said teacher Melissa Peruski. "We guided students through the process of profit versus deficit. Students were asked to keep track of whether they made a profit, broke even or even lost money."

Students deepened their understanding of economic concepts such as opportunity cost; goods versus services; human, capital and natural resources; competition; supply and demand; and advertising tricks.

"We really enforced that students act as professional and courteous business owners while they were selling their product," Peruski said. "We couldn't have been more pleased with this entire experience."

Best part of the fair? The little entrepreneurs didn't pay a penny in taxes. – CJC

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