Background: The mastery of economic theory in societies immersed in a globalised world requires the formation of reflective and socially engaged students prepared to guide today's economies. Game-based learning is a useful tool for learning economic theory due to the instruction of knowledge and skills training in an environment that simulates real-world situations. Aims: This study established university students' perceptions of and reflections on non-digital learning activities based on long-term market games in the classroom. Sample: Participants were 192 undergraduate students . Methods: The Mercadito is a competitive classroom market game that invited students (household role) to lease their economic factors of production and, with their payment, consume the goods and services offered by other students (company role). A qualitative study was conducted (n = 27). Data were collected through focus groups and in-depth semi-structured interviews. The information was transcribed, coded, and analysed by the saturation of information principle. Results: The students highlighted Mercadito as a dynamic and didactic learning activity that reflected the reality of the economy. Other reflections highlighted that (a) indebtedness allows access to consumption, while payment strategies are sought, (b) inequality is not only an economic issue, and (c) competition in the market must be ensured so that benefits are received by both households and companies. Conclusions: Students perceived behaviours such as solidarity, honesty, and collaboration, and other opposites such as collusion, cheating, and unbridled ambition. Mercadito also showed potential as a laboratory for predicting socio-economic behaviours both in local economies and in countries with different economic systems.