Profit from Coral Propagation: Learning Financial Literacy
My students need a coral propagation kit to start their business of growing corals. They will learn how to fragment corals, then sell and trade these corals for profit.
Corals are living animals that can be broken up into smaller portions and grown into new colonies. If the correct chemistry parameters are maintained, many of these corals will grow surprisingly fast. The coral fragments can then be sold in the aquarium hobby.
By purchasing this coral propagation kit, we will obtain the materials needed to start our coral fragging business and learn financial literacy.
Students will not only learn about the biology of dividing and growing corals, they will learn about their own financial bottom line (profit) as they have to account for expenditures (ongoing costs include salt mix, electricity and light bulbs) deducted from income created by selling the corals that they grow.
My Project
Students will learn about the connection between financial decisions, natural resources, and the triple bottom line (profit, people and planet). Students will learn to identify and account for potential environmental costs associated with products that may not be fully represented in the prices we pay as consumers. Wild caught corals damage the natural reef ecosystem. 10% of our world’s reefs have been completely destroyed, 80% are in danger. By farming corals, we lessen the impact on the natural reef habitat and the demand for wild harvested corals drops.
Students will also learn to balance their bottom line. They will make choices regarding the financial and environmental bottom line for their business.
A propagation tank is a system that can be manipulated and tested to maximize growth and color.
The whole idea is to find ways to produce the most attractive, fastest growing coral possible.
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