Young entrepreneurs bring wares to Mini-Economy - Richmond Times Dispatch: Economy

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Richmond 53 Tuesday, Apr. 2, 2013

Economy

Market Day

Young entrepreneurs bring wares

to Mini-Economy
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P. KEVIN MORLEY
Steward School fourth-graders Casey McClenden (from left on left) and Grace Struminger peer from their booths as
customers decide on purchases at VCUs Siegel Center. Mary Pastore (right) stares out from her booth.

Posted: Wednesday, March 27, 2013 12:00 am | Updated: Top Jobs Top Homes & Real Estate
iframe code: 1:43 pm, Wed Mar 27, 2013.

BY RANDY HALLMAN Richmond Times-Dispatch

TOP JOBS
A frenetic bazaar, it may have offered a
Project Manager
glimpse of the shopping mall of the future.
Showcase

http://www.timesdispatch.com/business/economy/young-entrepreneurs-bring-wares-to-mini-economy/article_f9567b90-6ef6-534a-9df6-70a3e743332d.html[4/2/2013 3:19:51 PM]

Young entrepreneurs bring wares to Mini-Economy - Richmond Times Dispatch: Economy

The Siegel Center at Virginia

Carpenters Helpers
Commonwealth University opened its
Showcase
doors to 1,300 business-savvy third-,
fourth- and fifth-graders Tuesday morning,
IT Network Administrator
and they soon hawked their wares to one
Showcase
another.
More Top Jobs

The Virginia Council on Economic

Educations annual Mini-Economy Market
Day drew participants from about 20
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Rows of tables on the Siegel Center floor
held the products of businesses such as Henry Moss, Polish Holocaust survivor, dies
at 100
Magical Mobile Bunnies, Funky Monkeys, 47 people recommend this.
Tiger Records and Mystical Magic and
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Judges awarded medals for innovative Secretariats owner, jockey, fans celebrate
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products and outstanding marketing. 383 people recommend this.

Richmond program aims to improve school

The entrepreneurs from Mystical Magic attendance
95 people recommend this.
and More entrepreneurs four students
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of teacher Patti Schneiders fourth-grade class at Kersey Creek Elementary School in Kaines first Senate bill seeks to help vets

Hanover County were among the winners.

BUSINESS VIDEO
They sold two products Magic 8 Jars (a variation on the Magic 8 Ball) and Pixie
Dust and one service palm readings.

Two of the business operators, Keriann Slayton and Katherine Winters, explained the
choice of products.

The team members like the iconic 8 balls, they said, and figured a way to develop
their own version. Pixie Dust is in demand for older children, which makes it a
marketing dream.

And one of their teammates, Katherine said, has a grandmother who has a business
reading palms, so she told us about it and we read a book about it, too. TOP 50 EMPLOYERS

Demonstrating her mastery of the mysterious skill, she explained to a willing customer
that his palm indicated a long life, riches and appreciation from friends and family.

The Virginia Council on Economic Education makes the annual event part of a year-
long learning experience for young students.

Keriann and Katherine said that their day-to-day classroom routine deepened their
understanding of how the economy works.

Using western wages, a mock currency, students in Schneiders Kersey Creek class
Our annual list of the top 50 employers in the Richmond
were paid for attendance, with bonuses for a variety of jobs like line leader, area.
messenger and recycling participant.

http://www.timesdispatch.com/business/economy/young-entrepreneurs-bring-wares-to-mini-economy/article_f9567b90-6ef6-534a-9df6-70a3e743332d.html[4/2/2013 3:19:51 PM]

Young entrepreneurs bring wares to Mini-Economy - Richmond Times Dispatch: Economy

The students didnt just earn; they also spent. They had to pay taxes from their
western wages. They had to pay rent for teachers, pay bus drivers and pay for the raw
materials that went into their business ventures.

For Tuesdays Mini-Economy Market, teams were issued Mini-Bucks. The market
was open for an hour.

As the minutes went by, teams could raise or lower their Mini-Buck prices to help
create demand for a product or retain supply if a product was selling too quickly.

Combined with months of preparation, the mini-market gave the elementary students
a lesson in some basic economic tenets. TD-Digital
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And it was definitely fun, Keriann said. We got to be with our good friends.
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2013 Richmond Times Dispatch. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Posted in Economy, Local, Small-business, College, Education, Hanover, Retail on Wednesday, March 27, 2013 12:00
am. Updated: 1:43 pm.

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Young entrepreneurs bring wares to Mini-Economy - Richmond Times Dispatch: Economy

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http://www.timesdispatch.com/business/economy/young-entrepreneurs-bring-wares-to-mini-economy/article_f9567b90-6ef6-534a-9df6-70a3e743332d.html[4/2/2013 3:19:51 PM]