#3479. Paper Airplance Factory

other, level: Elementary
Posted Sat May 28 09:57:47 PDT 2005 by Linda Arline (lsarline@bellsouth.net).
Washington Shores Elementary, Orlando, Florida USA
Materials Required: Listed in the Auction Sheet
Activity Time: Lessons range from 30 minutes to 2 hours
Concepts Taught: Economics, Mathematics,Science

The Great Paper Airplane Factory
By Linda Arline

The purpose of this project is to introduce you to a Unit in Economics. By the end of the project, I hope that you and your classmates will have a better understanding of how economics is an important part of our lives.

This project will consist of 7 parts. Each of you will participate in all 7 parts. They are as follows:

1. Forming the company. In this phase of the project you will interview class members to determine who you would like to form your company with. A company must have at least 2 associates but no more than 5 in the company. Once the company has been formed there are No changes.
2. Organizing your company. You will select a President and a Treasurer. Their job responsibilities will be discussed later. You must select a name for your company and create a marketing slogan and logo/design to identify it. This must be original and can not copy any company currently in business.(For example your company cannot be called South West Airlines.)Place this on Poster Board. ( The object is to form the company, build planes, test fly them, and enter the contest.
3. Preparation for the auction. This is where you will learn about supply and demand. At a given time, there will be an auction at which time the companies will be allowed to bid on the needed equipment. For building the paper airplanes. Only those planes that have been built with supplies or equipment bought at the auction will be allowed to enter the contest. Class monies will be awarded for 1st ,2nd, and 3rd place winners in each category. (The money is to be divided among the company associates.)
The categories for the contest are:
A. Highest flying
B. Longest flight
C. Longest flight duration
D. Most Acrobatic
E. Most creative design
F. Most beautifully decorated.
4. The Auction. Items will be limited and students will learn about supply and demand. Items may be rented or sold to other companies as in any other business venture. However only those items purchased at the auction can be used to make airplanes for the contest.
5. Paper Airplane Construction Day. Prior to this phase of the project, associates may create "practice" models, however only supplies purchased at auction can be use to make the final planes.
6. Test Flights. Associates should determine which planes will enter each category based on their practice flights. Associates should also determine who will be the flight pilot for each plane and what category they will enter the plane in. At least 3 categories must be entered in but it is not necessary to enter every category.
7. The Great Paper Airplane Contest. This is the part of the project when the companies challenge each other with the paper airplanes they have manufactured. Judges will be selected and winners will be determined.
Category A, B,and C: Determined by performance
Category D: Each plane will be launched 3 times and a score of 1 -- 10 will be give by the judges. The score will then be averaged.
Category E and F: Three independent judges will determine 1st, 2nd, and 3rd place.
Prizes and Certificates will be awarded.
8. Balancing Up and Closing the Company. As in every company there comes a time when the associates must close the company. Associates will do a final balance sheet and divide any profits among them. A final survey will be completed by the group. Each individual will fill out a Project rating sheet.

The Great Paper Airplane Factory
By Linda Arline

FORMING YOUR COMPANY

Approximate Working Time: 30 minutes

Guidelines:
Your company must have at least 3 partner/associate but no more than 5 partners/associates. Each partner contributes "loan" money to the company for the start up of the corporation. This will be your working capital.

Remember this money will be used to run your company. The more capital that you have, the more opportunity you will have to purchase supplies to compete against the other companies for prize money. Make sure that you chose your partners wisely. Once you have committed to a group of partners, you cannot change.

You will need to turn in the following paper to your teacher with all the partners names.

Lesson 1 -- Forming a Company

Company Partners

Our company will consist of __________ partners.
(number)

Partner names: ________________________

________________________

________________________

________________________

________________________

Lesson 1 -- Forming a Company

Loan Contract

This is an agreement between _________________________ (Name)
and the classroom bank.

It is understood that the name listed on this contract will be loaned the

sum of $500.00 for the purpose of forming a corporation. It is agreed

that the name listed on this agreement will repay this loan amount at

the end of the project.

_______________________ ________________
(Signature of Borrower) (Date)

_______________________ ________________
(Signature of Teacher) (Date)

Lesson 1- Forming a Company

Organizing Your Company

Working Time: Approximately 2 hours

Guidelines:

Your first order of business is to select a company name. People remember "catchy" names. So be creative when selecting a name for your company. You will also need to create a slogan for your company. (McDonald's has the golden arches, Nike has the check mark, etc)

Once you have created your company logo, we will hang your sign in the classroom to indicate that you are "open for business". This will be the only time that you are allowed to use your own supplies (markers, pencils, crayons, glue, etc.).

Next you are to vote for a president and a treasurer from your partners for your corporation.

The responsibility of the President is to be the spoke person for the company. He/She will conduct all business for the company. They are the only person to bid at the auction and this will be the only person that can rent or buy supplies from other companies. They are responsible for all company negotiations. Therefore it is important to pick somebody that will take this job seriously.

The responsibility of the Treasurer is to pay out and collect all moneys for the company. He/She needs to be aware of all financial transactions and make sure that the company does not spend more money than it has and does not go "bankrupt".

Lesson 2: Organizing Your Company

INCORPATION PAPERS

ARTICLES OF INCORPORATION
We, the undersigned, all of whom are engaged in the production of airplane manufacturing, do hereby voluntarily associate ourselves together for the purpose of forming a cooperative association, with capital stock of $500.00 each, under the provisions of the Project Classroom Provision of the State of Florida.
ARTICLE I. NAME
The name of the association shall be __________________________.
ARTICLE II. PRINCIPAL PLACE OF BUSINESS
The association shall have its principal place of business in the city of Orlando, County of Orange, State of Florida.
ARTICLE III. PURPOSES
The association is formed for the following purposes:
1. to market for its members and other producers any and all airplane products or any products derived there from;
2. to engage in any activity in connection with the creating, receiving, assembling, handling, transporting, storing, financing, advertising, selling, marketing, or distribution of any such airplane products or any products derived there from;
3. to purchase for its members and others airplane supplies and equipment;
4. to manufacture, create, rent, sell, and compete any and all such airplane supplies and equipment.
ARTICLE IV. POWERS
This association shall have the following powers:
1. To buy, rent, or sell, and exercise all privileges of ownership over such company property as may be necessary or convenient for the conduct and operation of the business of the association.
2. To borrow money with limitation, and to make advance payments and advances to members and other producers.

3. To acquire, own, and develop any interest in creation of airplane to result in end product for competition.

ARTICLE VI. INCORPORATORS, INITIAL DIRECTORS AND OFFICERS
The names and addresses of the incorporators and those who are to serve as the initial officers and directors are:
NAME
Director and President __________________________________
Director and Treasurer __________________________________
Partners in Corporation
______________________ _______________________
______________________ _______________________
______________________ _______________________

Lesson 2: Organizing Your Company
AUCTION PREPARATION

Approximate Working Time: 30 minutes

Guidelines:

A list of auction items will be distributed to the company president. It is important that the partners of the company decide what items are necessary to bid on and what items you could "get along" without. It is also important to understand the concept of supply and demand. Is it necessary to own the item or rent* it from another company. If you purchase the item, could you make a lot of money renting it to other companies. Remember only items sold at the auction can be used to construct your airplanes.

Money is awarded for contest winners and the money at the end of the unit is divided among the partners after the initial $500.00 loan investment is re-paid.

There is a 1st, 2nd, and 3rd place prize for each of the 6 categories. 1st place money is $500.00, 2nd place is $200.00 and 3rd place is $100.00. Remember there are 6 awards for each place.

*Companies that elect to rent items, must create a rental list to include price and time rental. (Rental price must be not exceed $5.00/minute) Companies that elect to sell items, can not sell items for more than 20% over the purchase price (example: purchased for $100.00, resale price can not exceed $120.00)

Lesson 3: Auction Preparation

RENTAL CONTRACT

Rental Company: ________________________________
Agrees to rent

_________________________________
(Item to be rented)

Terms of Rental:

Rental Time Required: _______________

Rental Price: $ _________/minute

Time Taken: ___________________

Time to be Returned: ________________

___________________________ for _________________________
Company President Name of Company

Lesson 3: Auction Preparation

AUCTION BID INFORMATION

ITEM BID INCREMENTS STARTING BID

Rubber Cement $5.00 $15.00
(2 Jars)

Pencil/Ruler Set $10.00 $30.00
(2 Sets)

Paper Clips (2 LG/5 Small) $5.00 $10.00
(2 Sets)

Scissors $5.00 $20.00
(2 Pair)

Paper Hole Punch $5.00 $10.00
(1 unit)

Colored Markers $10.00 $30.00
(2 Sets)

Designer Package $10.00 $30.00
(2 Pkgs)

Practice Paper $10.00 $25.00
(6 pkgs)

Construction Packets $20.00 $30.00
(2 -- A Packets)
(1 -- B Packet)
(2 -- C Packets)

Premium Paper $10.00 $20.00
(10 Individual Sheets)

Airplane Plans $25.00 $50.00

Lesson 3: Auction Preparation

THE AUCTION

Approximate Working Time: 30 minutes

Guidelines:
This auction is similar to other auctions with one exception, only the President of your company can bid on items. That's why it is important that the partners discuss ahead of time what items to purchase and how high he/she is allowed to bid for the items. Each company should decide on what items are necessary to compete in this business venture. Remember the profits get split between the partners when the project is over. It is important to decide which items will help you gain the ultimate goal -- building and racing the most planes.

Your treasurer will be responsible for making payment to the auctioneer. Remember your treasurer needs to help the partners develop a budget so that you can purchase what you need.

Lesson 4: The Auction

PAPER AIRPLANE CONSTRUCTION DAY

Approximate Working Time: 90 minutes

Guidelines:
Partners should use practice paper to create "practice" models before beginning actual construction of Contest Planes. Partners may want to test practice planes for flight ability before making actual flight models.

The Construction process is for the following categories:

Highest Flying
Longest Flight (distance)
Longest Flight Duration (time)
Most Acrobatic
Most Creative Design (this plane does not fly)
Most Beautifully Decorated (this plane does not fly)

Lesson 5: Airplane Construction

TEST FLIGHTS

Approximate Working Time: 45 minutes

Guidelines:

Partners will need to determine which planes they will enter in each category and determine who will pilot the planes for the competition.

Each corporation will enter 3 categories but may enter all 6.

You will need to file a "Flight" plan entry form with the Test Flight Judge prior to the competition.

Lesson 6: TEST FLIGHTS

"FLIGHT" PLAN ENTRY FORM

Flight Category: __________________________________________

Pilot: ______________________________________________

Plane Description: _________________________________________

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
Flight Category: __________________________________________

Pilot: ______________________________________________

Plane Description: _________________________________________

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
Flight Category: __________________________________________

Pilot: ______________________________________________

Plane Description: _________________________________________

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
Flight Category: __________________________________________

Pilot: ______________________________________________

Plane Description: _________________________________________

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
Flight Category: __________________________________________

Pilot: ______________________________________________

Plane Description: _________________________________________

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
Lesson 6: TEST FLIGHTS

THE GREAT PAPER AIRPLANE CONTEST

Approximate Working Time: 90 minutes

Guidelines:

Categories: A. Highest Flying; B. Longest Flight; C.
Longest Flight Duration, are judged by performance
Category D. Most Acrobatic will be judged based on 3 flights. Each flight will receive a rating of 1 to 10 and averaged. Categories E and F: Most Creative Design and Most Beautifully Decorated are determined on an average score by 3 independent judges.

Lesson 7: FLIGHT CONTEST

BALANCING AND CLOSING THE COMPANY

Approximate Working Time: 45 minutes

Guidelines:

As in every company, there comes a time when the partners must close the company. Partners will do a final balance sheet and divide any profits among each partner.

Each individual will do a Project rating sheet as their final partner task.

Lesson 8: CLOSING THE COMPANY
Factory Balance Sheet

Name of Company:

Company President:

Company Partners:

Starting Capital($500.00 x partners):
Transactions (buying/selling/renting supplies):

Item Bought Sold Rental

Final Balance:
Prize Money Earned in Contest:
Grand Total Company Assets:
Total Profit Per Partner:

ECONOMICS IN REVIEW
Group Evaluation

Company Name: ______________________________

President: ____________________ Treasurer: __________________

Company Associates: ______________________________________________

In reviewing what you did during the project, you as a group will be expected to look back on what you did and honestly answer the questions to the best of your ability.

Company Organization and Planning

1. In forming your company, did everyone in the group work well together?

________________________________________________________
________________________________________________________________________________________________________________________________________________________________________

Did you always agree on everything? Yes No

2. How did you solve any disagreements? ________________________________________________________________________________________________________________________________________________________________________________________________________________________________

3. Was it easy to decide on your President and Treasure? Yes No

4. Do you think that you kept good control on your money? Yes No

5. Were your pre-auction plans organized? Were you able to pre-plan what you would bid on? Did everyone have a say in what you would bid on? Did you pre-plan how much money you should spend?

_____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
THE AUCTION

6. Do you think that you bought everything that you needed? Yes No
7. Did you buy items that you didn't need? Yes No
What were those items?
________________________________________________
________________________________________________
________________________________________________
8. Did you pay too much for any of your items? Yes No
What items do you think you paid too much for?
________________________________________________
________________________________________________
________________________________________________
9. Did all the partners agree during the auction phase? Yes No

CONSTRUCTION

10. Did you find it easy to negotiate with the other companies for rental or purchased items? Yes No

11. Did you find it easy to construct the planes with your company associates? Yes No

12. Did your company associates agree or disagree during the construction phase? Yes No

Did anybody try to take over and how did you fix it?

_____________________________________________________ _____________________________________________________
_____________________________________________________

THE CONTEST

13. Did you place your planes in the right categories? All Some None

14. Were you able to make a good decision on who should fly the plane? Was it a group decision? Yes No

15. What could you have done better to get ready for the Contest? ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
BALANCING UP

16. Did everyone help in balancing out the worksheet? Yes No

17. Did you keep good records through out the project? Yes No

18. Was this an easy job? Yes No

19. Would you have done things differently? Yes No

20. Do you think your company made money? Yes No

One Per Group
RATING THE PROJECT:

Would you work with the same partners again? Yes No

If no, why not? (check as many as apply)

____ Didn't get along with the partners.
____ Partners didn't want to take things seriously
____ Partners played around and talked too much.
____ Partners always were arguing.
____ I would like to experience working with new partners
____ I didn't have a say in very much
____ One or more partners were too bossy

Did you like the project? Yes No

Did you learn anything new? Yes No

What did you learn? ________________________________________________________________________________________________________________________________

Every Partner to fill one out

Company Balance Sheet:

Number of Partners ________________

Total Monies Started with (+) ________________

Money Spent for Supplies (-) ________________

Money Spent for Rentals (-) ________________

Money Spent for Purchases (-) ________________

Money received from Sale of Items (+) ________________

Money received from Rental of Items (+) ________________

Contest Money received (+) ________________

Total Money at end of Project (+) ________________

Partners Profits (money divided evenly) ________________