Tuesday, December 7, 2010

Barter Day is Tomorrow!

As part of our study of ancient civilizations, students will be learning about the development of the first economies. Key concepts of this unit include surplus-scarcity, supply and demand, and trade; money was not used. To give students a clearer understanding of the concept of trading, or bartering, we will have “Barter Day” on Wednesday, December 8.

On Barter Day, students will become artisans in a marketplace and trade their “goods” with other students to learn about the challenges (and fun) of bartering. In the process, students learn about the importance of supply and demand and about competition in the marketplace.

To participate on Barter Day, students should look around the house for unwanted tacky knickknacks, trinkets, toys, or other junk treasure. The items that students bring in should be no more than can fit all together on a desk. The things that students bring in are for trading. Students should not bring in anything of value, or anything that is special to them. Some students choose to make “craftsy” items to trade. This is acceptable as long as the materials do not total more than $5.00 in cost.
Please note: Absolutely NO FOOD PRODUCTS.

Students should bring in their goods on Tuesday, December 15th to prevent anyone from forgetting and being left out on Barter Day. Students must bring something in order to participate.
 
Some helpful vocabulary for understanding a barter economy:

Barter: To trade goods or services without the exchange of money

Surplus: An amount, quantity, greater than is needed

Scarcity: Insufficiency of amount or supply; shortage

Trade: The act or process of buying, selling, or exchanging goods within a country or between countries: domestic trade; foreign trade (2.) A purchase or sale; business deal or transaction (3.) An exchange of items, usually without payment of money

Knickknack: an ornamental trinket or gimcrack; a bit of bric-a-brac 



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