Today was our first day of school. Home school. We read one of the Tuttle Twins book called, "Food Truck Fiasco." The Tuttle Twins is a collection of books that focus on conservative principles. This book was about protectionism and competition. After we read the book together, I was asking the girls to demonstrate their understanding of the book. I gave them an example of having two lemonade stands across the street from each other and asked them how a customer would benefit from having two lemonade stands to choose from. We talked about how one stand might offer more flavors, better service or lower prices to gain customers and that was how the consumer benefits from competition.
Then, a light bulb, for Lauren, went off. She explained that she remembered playing a Roblox game where she had a lemonade stand and was charging $5.00 per glass. Someone came along and set up their lemonade stand right next to hers, undercutting her prices, selling theirs for only $1.00 per glass. That was the perfect opportunity to talk about how it's understanding that someone could support protectionist regulations, if it was beneficial to their business. We talked about the ethics of that and decided it was wrong to support that kind of regulation. I asked her how she finally resolved the competition situation and she said, "I opened up a hot dog stand and had more options for my customers!" Brilliant!