What is Bartering?

By: Karissa Alcock

Agenda and

GPS Standard

EQ: What does bartering mean?1. Introduction2. Review PowerPoint on bartering 3. Do bartering activity4. Recap-what did we learn from this lesson?

SS3E3 The student will give examples of interdependence and trade and will explain how voluntary exchange benefits both parties.

Behavior Expectations

Students will show respect for one another, as well as the teacher during the lesson.Students will ask questions when needed, and will quietly raise their hand to do so.The teacher will challenge the students during the lesson by asking questions in order to figure out what they know.

No Money?

It's hard to imagine our world without money, isn't it? A long time ago there were no coins. There was no such thing as money. Before money was invented people had to get their food, clothing and other needs by trading things.

A special kind of trading…

There is a special name for this kind of trading. The name is barter. Bartering is the exchange of goods and services without the use of money.

Why do people barter?

People traded some of the things they didn't need for things they wanted or needed. Even then people had different jobs and skills. The good hunter might trade 10 rabbits to the carpenter for the carpenter's promise to fix his roof.

What was traded?

All sorts of things could be used as money if people agreed on their value and accepted them in trade. In some places you could always make a trade if you had a cow.

There are problems with bartering.

What happened when you had something to trade but nobody wanted it? What happened when the traders couldn't agree on what was a fair trade?

Do you have what someone wants?

The main disadvantage of barter is that it requires a double coincidence of wants. Both people have to have what the other one wants and be willing to swap with each other. This caused people to develop a standard for value of items.

Bartering Activity!

Now you all are going to participate in a bartering activity. Each of you want to make cookies, and you need certain ingredients in order to make them. The object of the activity is to trade until you all have one of each of the ingredient cards listed on the board. Once you have all four cards, you can return to your seat.

What have we learned?

What is another name for trading?

Another name for trading is bartering.

What have we learned?

What is bartering?Bartering is the exchange of goods and services without the use of money.

What have we learned?

What do you think are some disadvantages with bartering?

Though there are many disadvantages, some of them may include finding what you want, finding someone who wants what you have, and finding someone who has what you want and also wants what you have.