Buyers The Sellers example essay topic
366 words
For this assignment I went to Sheldon High School in Mrs. Alderman's class for economics. What I had to do was besides observe and sit in the back of the classroom, (which would have been fine with me) I actually participated in the class activities. On a side note I attended school at Sheldon high school and one of my favorite teachers was Mrs. Alderman and that's why I chose to come back to Sheldon and do my service learning hours with her class. But anyways back to the activities I participated in, first was the apple experiment. The purpose of this experiment was to teach the students how the market can go up and down depending on the prices of the items being bought and sold. She had the class separate into to groups, buyers and sellers.
Each student was then given an apple with the word buyer or seller with a price on in saying try not to sell for less than this or not to buy for more than that. The prices ranged from five-dollars all the way up to one-hundred. You wanted to make as many transactions as possible so you would sometimes have to cut a loss and sell for less or buy for more. The students did this for a few rounds and then accumulated the profit and loss. Then it was switched up a little bit she took out half the buyers and made them become sellers to demonstrate if you have more sellers than buyers the sellers would have more competition and would have to decrease the selling price. Then the opposite was done where there were more buyers than sellers demonstrating that with more buyers the sellers could raise their prices up more because they had more buyers at bay.
This was a fun experiment to watch and participate in, although I had already done this in my high school days, it was fun to watch how others viewed and acted with this experiment. We did this for two different classes and each class had a totally different outcome for each of the trails..
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