Alice Binney the wife of the company co-owner Edwin Binney, Created the word Crayola she took the French words for chalk (craie) and oily (oleaginous).

Edwin Binney was born in Westchester County, New York in Edwin was a successful businessman. He took over the Peeksill Chemical Company that his father (Joesph Binney) found in Edwin Binney and his cousin Harold Smith expanded the company’s product to include shoe polish and printing ink. Edwin Binney was founder of Binney & Smith, which is known today for it’s crayola crayons. Edwin Binney had a wife named Alice Binney and four children: Dorothy, Helen, Mary, and Edwin Jr.

Edwin Binney and Harold Smith has faced some opportunity cost’s which means what they had to give up on a product. Crayon launched the washable markers as well as colored pencils. A 96 crayon box was created, featuring 16 new colors. Yet as new products were introduced some products were retired. Edwin Binney on left and Harold Smith on right.

o Lemon Yellow o Violet Blue o Blue Gray o Orange Red o Maize o Raw Umber o Orange Yellow o Green Blue o Blizzard Blue o Magic Mint o MulBerry o Teal Blue o Thistle

In 1903, Crayola introduced their first box of crayons. It contained eight colors: blue, green, red, black, orange, yellow, purple, and brown. They were sold in 1903 for a nickel for each box. Today Crayola boxes are sold for a $1.98 or higher. Crayola Crayons have been a joy to kids all over the world they can draw, and be very creative with these crayons kids all over the world spend at least 28 minutes coloring with these wonderful crayons! Today there are not only eight crayons there are over hundred’s of different types of Crayola Crayon’s some that can glow in the dark, glitter and sparkle, smell like flowers, change colors, and wash off walls and other surfaces. $1.98 $.5 in 1903