As I was giving the kids a bath tonight, Sarah suddenly asked what happened to all of the bubbles. I told her they went away as she and Pucci were playing in the bathtub. Of course, that answer was not quite satisfactory to my inquisitive 3-yr-old, and she wanted to know more. I simply told her that bubbles don’t last forever.
Her response, “Like toys don’t last forever?”
I liked her line of thinking, and we went on with it. I told Sarah that some things are made to last for a very long time, years and years, like a house. These are called “durable goods.”
On the other hand, some things only last for a little while, like bread. When we buy a loaf of bread, it doesn’t even survive for a week in our household. These are called “nondurable goods.”
Although it took Sarah a while to get this new vocabulary straight, she caught on pretty quickly to which things are built to last and which are more temporary.
I would give her some examples, and then quiz her on items like milk, beds, chalk, etc.
As she was getting ready for bed, she kept asking, “Can we play our new game?” She wanted me to keep naming items so she could tell me if they were durable or non-durable. I used this in my favor, telling her that she’d have to get ready for bed very quickly so we’d have time to play our game some more.
When her teeth were brushed and her jammies on, she correctly told me that windows and buildings are durable goods, but pajamas and cookies are non-durable goods. And, although it seems that she has a pretty good chance of guessing correctly, I did follow-up with “why” a couple of times, and her reasoning was right on target!
Looks like we might have another economist in the family!
–Of course, this could all be forgotten by tomorrow morning, but I’ll maintain hope that this knowledge is there to stick. Plus, I’ve really been waiting to introduce the concept of Opportunity Cost. If Sarah has a good handle on this, then maybe our Spring Break will be marked by her mastery of Opportunity Cost as well!
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