Let’s pretend that the people with the pink cards are toy makers who make Jurassic Park action figures and that the people with the blue cards are toy storeowners. Both groups of people can benefit if they trade with one another. The toy makers are the sellers and the toy storeowners are the buyers.

Each toy maker must spend some money in order to make a tyrannosaurus. If you are a toy maker, the pink card tells you how much you must spend. You would like to make money, so you should sell the tyrannosaurus at a price above what it costs to make it (the dollar value on the pink card). Since toy makers will be selling a tyrannosaurus, they will be called "sellers."

 

Each toy storeowner wants to have a tyrannosaurus in his store, so he or she needs to buy it. If you are a buyer, the blue card tells you how much a tyrannosaurus is worth to you. This is the most you should pay for it. You want to spend as little as possible because you like your money as well as the tyrannosaurus. Since toy storeowners will be buying a tyrannosaurus, they will be called a "buyers."

The first game will be a practice game so that we can all learn the rules. After the practice game, we will play five more games. The earnings for the practice game will not count. The earnings from all other games will count.

I will begin each trading game by saying, "The market is open!" Each game will last for eight minutes. At any time during the game, any buyer can raise his/her hand and, when called on, offer to buy a tyrannosaurus for a certain amount of money. Similarly, any seller is free to raise his/her hand and, when called on, make an offer to sell a tyrannosaurus for a certain price.

Each of you has an identification number; your number is on the earnings sheet in your folder. You should tell us your identification number when you make an offer to buy or sell.

If you are buying, you have a blue card.

• When you want to buy, raise your hand and, when called upon, tell us your identification number and tell us how much you are willing to pay for a tyrannosaurus. For example, a buyer might say, "Buyer 1 will pay $3.00."

• YOU ARE TRYING TO PAY LESS THAN THIS NUMBER SO THAT YOU CAN MAKE MONEY!

After you tell us your offer, the blackboard helper will write it on the board.

If you are selling, you have a pink card.

• When you want to sell, raise your hand and, when called upon, tell us your identification number and tell us the price at which you are willing to sell a tyrannosaurus. For example, a seller might say, "Seller 4 will sell for "$4.00."

After you tell us your price, the blackboard helper will write it on the board.

Until an official agreement is made between two people, any seller is free at any time to accept or not accept the offer of any buyer and any buyer is free at any time to accept or not accept the price set by any seller.

• To say no to a sale, remain silent and do not raise your hand.

• To say yes to a sale, simply raise your hand. After you are called upon, tell us your identification number and accept the deal.
• If you were the buyer, you would say, "Buyer 1 agrees to Seller 4’s price."
• If you were the seller, you would say, "Seller 4 agrees to Buyer 1’s offer."

The deal will then be marked on the board and circled. The agreement then becomes official.

• The two people who have made the deal are now finished until the next game and will move to the "Dealmaker’s Lounge" at the back of the room. We will help the buyer and the seller who have made the agreement to record the price, payment and money made from the deal, and the seller will give the buyer his tyrannosaurus.

• After the dinosaur has changed hands, all old offers will be erased and the people who have not bought and sold will begin again. People will buy, sell and make more deals until time is up.

• After eight minutes have passed, I will end the game by saying, "The market is closed!’

Except for trying to sell, trying to buy and making an agreement, you are expected not to speak to any other person, even if there are many offers to buy and offers to sell that are not accepted. If at any time you are confused, please hold your card above your head so that an adult can help you.

Are there any questions?

Each of you has a piece of paper where you will record your buys. The information that you record is private. Please do not show it to anyone!

• A buyer makes money when the price he or she pays for a tyrannosaurus is below the amount that it is worth to him or her.
• In other words, if the amount you pay for a tyrannosaurus is less than the dollar value shown on your index card, you make money.

• VALUE ON CARD – PRICE PAID = MONEY MADE (profit)

At the end of the game, we will "show you the money"!

Each of you has a piece of paper where you will record your sales. The information that you record is private. Please do not show it to anyone!

• A seller makes money when the amount of money he or she sells a toy for is above the amount that it cost to make the tyrannosaurus.

• In other words, if the amount you get for a tyrannosaurus is more than the dollar amount shown on your index card, you make money.

• PRICE RECEIVED – COST ON CARD = MONEY MADE (profit)

At the end of the game, we will "show you the money"!