MĀRAMA WORKSHOP 03
A price may seem like a simple number. Yet behind it lie different interests, limited resources and countless individual decisions. A poor harvest can make everyday goods more expensive, more money does not necessarily mean greater purchasing power, and sometimes simply owning something changes what we believe it is worth.
Through four hands-on experiments, children create their own marketplace, negotiate with one another and experience how economic forces and human behaviour interact.
If you want to pay less and someone else wants to earn more, how do you agree?
Children take on the roles of buyers and sellers, each with different interests. They make offers, negotiate and find trading partners, discovering how prices emerge when people with different expectations meet.
What happens when everyone wants something, but there isn’t enough?
A drought strikes the marketplace. Suddenly, there are fewer goods available, but buyers still want them. As negotiations begin again, children experience how scarcity can shift the balance between buyers and sellers.
If everyone suddenly had twice as much money, would we all be twice as rich?
The children receive more money, but the marketplace has no additional goods to offer. As trading begins again, they explore how increased spending can drive prices higher and why having more money does not necessarily mean being able to buy more.
Can owning something change how much we value it?
Some children receive an object, while others have the opportunity to buy it. Each child privately decides how much they would accept or pay. Comparing their answers raises an intriguing question: Does ownership influence what something is worth to us?
Why did you agree to that price? What changed when goods became scarce? And was something suddenly worth more simply because it belonged to you?
By reflecting on their own experiences, children begin to understand not only how markets work, but also how their expectations, emotions and circumstances influence the choices they make.
Age
7–9 years
Duration
90 minutes, including a short break
Group size
10–12 children
Focus
Price formation, supply and demand, scarcity, inflation and purchasing power, and the psychology of value