Trade Economics Chapter 4

Have you ever traded? “I’ll trade you my chips for your cookie.”

Other Trade Examples My neighbor is a painter. He didn’t have enough money to pay for his boys to play ice hockey, so he offered to paint the ice arena in exchange for free hockey lessons. How does this benefit the neighbor? How does this benefit the ice arena?

Money or Trade A long time ago, people would trade for things they needed and wanted. Now, most people pay money for those things. Read and talk page 17 Complete the activity on page 17 on a piece of paper. Make a T-chart to record your answers.

Barter Discuss this word with a partner. Be sure both people in your group understand what barter means! Raise your hand and explain “barter” to Mrs. Gross.

Warm Up If a Snickers bar costs $.69, how many candy bars would you have to trade for an MP3 player that costs $25.00?

Hint Hint! $0.69 Is this enough $0.69 to get the MP3 $0.69 player? + _____

Valuable Items A long time ago, people would trade for things they needed and wanted. Read page 18, and list 7 valuable items people used to barter with. Then, get with a partner to discuss what items you could use for trade “If you were…” (page 18)

Are we playing cards? Everyone pick 2 cards. Add the amount. Face cards are worth 10. Aces are worth 1.

Early Coins and Paper Money

Coins Today in America

Types of Trade Domestic When the U.S. trades with people in the U.S. International When the U.S. trades with people in another country

Types of Trade Read and Talk page 21. Mind streaming Activity- Make 2 lines!