1. LESSON 25 WHY DO PEOPLE TRADE? 25-1 HIGH SCHOOL ECONOMICS 3 RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY Why do people trade? © Rob Wilson / Shutterstock.com

2. LESSON 25 WHY DO PEOPLE TRADE? 25-2 HIGH SCHOOL ECONOMICS 3 RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY Rate the item(s) in your bag on a scale of 1–10; 10 means you are extremely satisfied.

3. LESSON 25 WHY DO PEOPLE TRADE? 25-3 HIGH SCHOOL ECONOMICS 3 RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY Total number of trades, Round 2: _____ Number of students who reported a higher value rating after Round 2: ______

4. LESSON 25 WHY DO PEOPLE TRADE? 25-4 HIGH SCHOOL ECONOMICS 3 RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY Total number of trades, Round 3: _____ Number of students who reported a higher value rating after Round 3: _____

5. LESSON 25 WHY DO PEOPLE TRADE? 25-5 HIGH SCHOOL ECONOMICS 3 RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY Trade is the voluntary exchange of goods and services among individuals and businesses.

6. LESSON 25 WHY DO PEOPLE TRADE? 25-6 HIGH SCHOOL ECONOMICS 3 RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY Motive for Trading People expect to gain by trading with others. They hope to receive a good or service that is more valuable than whatever they trade away. Motive for Not Trading People do not trade when the good or service being offered is of less value than the good or service they are asked to exchange.