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Arkansas “Diamond in the Rough” Production
Source: Bessie Moore Center for Economic Education | Type: lesson/chapter

Chapter 8, Entrepreneurship: Arkansas Style. Students, working in small groups, will simulate a business creating and producing a product from resources found in the state of Arkansas. Using budget constraints they must decide which resources they will purchase for production of a product prototype. They will then attempt to ‘sell’ their product to their classmates.   Students will practice accounting basics as they determine production costs, revenues, and profit or loss. They will analyze which businesses were the most profitable.  This is a fun activity that fosters both critical and creative thinking skills.




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