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					                                                     Economics
                                            Supply & Demand Market Game

                                                 BUYERS
    GOAL: To pay as little for the piggy as possible. The highest price you can pay in
     order to not lose money is printed on the B-card. Each buyer can have only one B-
     card at a time. Make sure to pick a B-card up from Ms. Glynn before each transaction!
    If you pay a higher price for the piggy than that listed on your B-card, you lose
     money. DO NOT TELL OTHER PEOPLE YOUR B-CARD PRICE!!!! Just record it
     on your score sheet before searching out a seller.
    When the round begins, try to buy a piggy for the lowest price possible. Haggle! Be
     thrifty! However, you can purchase a piggy for more than the price on your B-card…
     this results in a negative profit (a.k.a. a loss) but will allow you to get a new B-card.
    When you find a seller and agree to a price, record the price you both agreed to on your
     sheet and have the seller initial beside the amount. Then return your card to Ms. Glynn
     and get a new B-card. Keep making transactions until time runs out.

SAMPLE SCORE SHEET:
        Price on Card               Transaction Price         Seller Initials        Profit/Loss
            (PC)                          (TP)                                        (PC-TP)
             $34                           $32                      MG                   $2
             $30                           $34                      MG                  -$4
             $32                           $24                      MG                   $8



                                   GENERAL GAME RULES
1. When Ms. Glynn says “Start,” seller and buyers are free to move around the room and to
make transactions with one another. Any seller may talk with any buyer, and visa versa.

2. Both buyers and sellers are free to make as many transactions as they want in a round.
Remember to give your card back to Ms. Glynn after each transaction.

3. You must make a transaction before you can get a new card. You are allowed to take a loss
in order to complete a transaction.

4. Following each transaction, sellers must report their selling price to Ms. Glynn who will
mark their selling price on the board.

5. During the game, keep track of your progress on the student score sheet. Compute your
gains and losses by subtracting the price on your B-card from the price of the transaction.

6. You will make a profit if you buy at a price lower than the price on your B-card. If you buy
at a higher price, you will suffer a loss.
                                                      Meegan Glynn
                                                         Fall 2006
   Adapted from The Fraser Institute at http://www.fraserinstitute.ca/teachercentre/pdf/Market_Game_Buyers_Sellers.pdf

				
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