Objective:  Students will be able to determine economic utilities created by business activities.

 

Materials Needed:  Each individual will receive two containers of PlayDoh.

Procedure: The clay represents economic resources.  Using your imagination, you are to create a product that has value to consumers in the marketplace.  Remember this is a representation only (a prototype – not the actual product).  

Don’t get hung up on details but definitely use your imagination!

 

***Remember that competition drives new and improved products and creates lower prices – so you can come up with an original idea for a product/prototype or you can improve upon an existing product, as long as you can explain how it will be new and improved and answer the questions below.  Make sure you identify what type of utility you are addressing with your answer. 

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Presentation:  You will present your product to the class.  In your presentation you must answer the following questions: 

 

1.  What is the product the prototype represents and how does it meet customers’ wants and needs?

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2.  What resources would you need to make the real product? (____________Utility)
 

3.  Who would you sell the product to?  (Target Market)
 

4.  Where would you sell the product and how does the location add value for the consumer? (_____________ Utility)
 

5.  When would your product be sold in the market place and would the time add value? How? (______________ Utility)
 

6.  What sources would you use to inform potential customers about your product and why? (__________________ Utility)
 

7.  What benefits would the customer get when they used your product?