Classify a market and identify its competitors in their community.
Discuss how competition in markets tends to lower prices.
Students need to know that markets are anywhere that there are buyers and sellers. This lesson is going to look at De Smet, South Dakota in the 1880s and the students are going to identify the markets. The map presented in this lesson was adapted from the original map that was drawn by Laura Ingalls Wilder. The map will provide students with an idea of what markets existed in De Smet, South Dakota during Laura Ingalls Wilder's time. The lesson is going to ask students to find evidence of markets in the past and in their own communities.
Students will pick a market in their own community.Then they will classify it as a market for fast food, a market for hair cuts, a market for bikes, etc. They will name other businesses that are in competition with each other in the market they chose.
Younger students will do an interactive drag and drop activity in which they identify the consumers. Then they will draw a simple map of a town that has competition in it.