BUSINESS OF THE DAY: Pricing Pundit!
Find a standard item in a store. Examples include: socks, a radio, or a pen, a specific food item like ketchup or spaghetti. See if you can find three different prices for the same type of item. Talk through how and why the prices are the same or different.
THE PRESENTATION SLIDE WITH TODAY'S OBJECTIVES: Why You're Doing This
- Help your child see that prices vary between the same or similar items.
- Raise awareness in the idea that all items in the store cost a specific amount of money.
- Learn about how and why prices vary from one item to the next.
THE FAMILY CONFERENCE CALL: Questions to Talk About Together
- Why is one pen more expensive than another? Is it because of size, the amount of ink, the colors, the brand, the quality?
- Of these items, which is your favorite? Why?
- Would you be willing to pay for a pen that was more expensive if it was “better”?
- What might make one pen better than another in your opinion?
Parents, good aisles for this are the condiments aisle, the pasta aisle, or the dairy/milk section. There is a lot of variety in price when one item is organic and another is not.