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Economic Systems: Distributions and Exchanges 

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Economic Systems: Distributions and Exchanges 

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This article describes several different types of trade systems and methods of exchange!

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Economic Systems: Distribution and Exchange

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Here is a great video that explains the idea of "fair trade" at 10,000 Villages, a fair trade store!

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This is an interactive game that you can play to experience the different ways to trade in different areas of the world!

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Trading Around the World: Trading Center

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Barter System History: The Past and Present

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Barter System History: The Past and Present

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This article explains the pros and cons of bartering, one historical method of exchange!

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If you've ever swapped one of your toys with a friend in return for one of their toys, you have bartered. Bartering is trading services or goods with another person when there is no money involved. This type of exchange was relied upon by early civilizations. There are even cultures within modern society who still rely on this type of exchange. Bartering has been around for a very long time, however, it's not necessarily something that an economy or society has relied solely on.
What is a Barter System?
A barter system is an old method of exchange. Th is system has been used for centuries and long before money was invented. People exchanged services and goods for other services and goods in return. Today, bartering has made a comeback using techniques that are more sophisticated to aid in trading; for instance, the Internet. In ancient times, this system involved people in the same area, however today bartering is global. The value of bartering items can be negotiated with the other party. Bartering doesn't involve money which is one of the advantages. You can buy items by exchanging an item you have but no longer want or need. Generally, trading in this manner is done through Online auctions and swap markets.
History of Bartering
The history of bartering dates all the way back to 6000 BC. Introduced by Mesopotamia tribes, bartering was adopted by Phoenicians. Phoenicians bartered goods to those located in various other cities across oceans. Babylonian's also developed an improved bartering system. Goods were exchanged for food, tea, weapons, and spices. At times, human skulls were used as well. Salt was another popular item exchanged. Salt was so valuable that Roman soldiers' salaries were paid with it. In the Middle Ages, Europeans traveled around the globe to barter crafts and furs in exchange for silks and perfumes. Colonial Americans exchanged musket balls, deer skins, and wheat. When money was invented, bartering did not end, it become more organized.

Due to lack of money, bartering became popular in the 1930s during the Great Depression. It was used to obtain food and various other services. It was done through groups or between people who acted similar to banks. If any items were sold, the owner would receive credit and the buyer's account would be debited.
Disadvantages and Advantages of Bartering
Just as with most things, there are disadvantages and advantages of bartering. A complication of bartering is determining how trustworthy the person you are trading with is. The other person does not have any proof or certification that they are legitimate, and there is no consumer protection or warranties involved. This means that services and goods you are exchanging may be exchanged for poor or defective items. You would not want to exchange a toy that is almost brand new and in perfect working condition for a toy that is worn and does not work at all would you? It may be a good idea to limit exchanges to family and friends in the beginning because good bartering requires skill and experience. At times, it is easy to think the item you desire is worth more than it actually is and underestimate the value of your own item.

On the positive side, there are great advantages to bartering. As mentioned earlier, you do not need money to barter. Another advantage is that there is flexibility in bartering. For instance, related products can be traded such as portable tablets in exchange for laptops. Or, items that are completely different can be traded such as lawn mowers for televisions. Homes can now be exchanged when people are traveling, which can save both parties money. For instance, if your parents have friends in another state and they need somewhere to stay while on a family vacation, their friends may trade their home for a week or so in exchange for your parents allowing them to use your home.
By Kelly Anderson
Another advantage of bartering is that you do not have to part with material items. Instead, you can offer a service in exchange for an item. For instance, if your friend has a skateboard that you want and their bicycle needs work, if you are good at fixing things, you can offer to fix their bike in exchange for the skateboard. With bartering two parties can get something they want or need from each other without having to spend any money.

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Barter System History: The Past and Present

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If you've ever swapped one of your toys with a friend in return for one of their toys, you have bartered. Bartering is trading services or goods with another person when there is no money involved. This type of exchange was relied upon by early civilizations.

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A Social Studies Activity on Trade and Bartering

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A Social Studies Activity on Trade and Bartering

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This is a lesson activity that I am thinking about using to help the students understand the concept of exchange and trade! Please read over it, and let me know what you think!

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Summer Wood

Title: Exchange City

Grade: 3rd

Length of activity: 50 minutes

Objectives: Students will demonstrate the process of bartering by exchanging with another child an item that is more valuable to them.

Material: Items to be exchanged

Letter to parents

Activity:

1. Tell the students you are planning a day called Exchange City. Explain the Exchange City is a day when the boys and girls bring in items that they would like to exchange with each other.

(EXPLAIN!! that the exchange is for real. They will not get back the item that they brought if they choose to exchange it with another child.)

2. The students are to bring in an item that is worth between one or two dollars. Explain to the students that they do not have to exchange their item if they feel there is not another item that is worth as much to them as the one they brought.

3. Before you start the lesson ask the students to set out the item that they choose to bring.

4. Make sure that everyone has brought an item that is between the dollar value. It would not be fair if someone brought an item worth five dollars and everyone else brought one dollar items.

5. Now that you have made sure everyone has the proper items - set a date in which Exchange City will take place. (Once again, explain that the exchange is for good)

6. Send a letter home to the parents explaining what activity you have planned. Encourage parents to come to visit on the day.

7. It is now EXCHANGE CITY DAY!!

8. Explain to the class exactly what a barter system is: Barter is the exchange of goods or services without money. (Introduction)

9. Give a couple of common examples of barter. Ex: On Halloween kids get many kinds of candy. Some they like and some they don't. Normally the child will offer a sibling or a parent the piece of candy they don't like for a piece of candy that their sibling or parent would like to give up. The piece of candy you don't like could be your brother's favorite kind.

Ex: Have you ever been to Wal-Mart and wanted a quarter for those machines that sit outside the doors? Thisis another form of barter. You and you sibling could put a quarter in the machine and get something totally different than what is pictured on the advertisement. If you want a ring and your brother wants a bouncy ball and what comes out is just the opposite, this is a chance for you to exchange items. This is called bartering.

10. Now that you have explained what barter is, ask the class to place their items on their desks. Let the students walk around and get a sense of what other students have brought. Once they are seated, you (the teacher) begin the exchange by offering one student the item you brought. This should get things rolling. Announce to the class that they only have 30 minutes to do the exchange. Announce when five minutes remain.

11. While they are participating in Exchange City, walk around the room and listen to the different comments made to each other.

12. When time is up discuss the lesson: (closure)

How many students traded their item for the item they wanted most?

How many didn't trade at all? Why?

Was there anyone who traded more than once to get the item of their choice?

13. Have the class define barter in their journals, comment on the activity, and list three examples of barter they have been involved in.

14. Observe activity and write down comments the student make throughout the exchange. (Assessment)

15. Take pictures throughout the activity and develop them for display in the room.

Adaptation/Extensions: Send a letter home to the parents saying that if their child participates in 5 barters within two weeks, they will receive 2 points extra credit. To receive the points, a note must be sent to school with your child and signed describing the exchange that was made.

Reference:

Coulson, E. & McCorkle, S. (1982). Swap Day. Ballwin, MO: Economics for the Elementary Classroom.

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A Social Studies Activity on Bartering and Trade

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Summer Wood Title: Exchange City Grade: 3rd Length of activity: 50 minutes Objectives: Students will demonstrate the process of bartering by exchanging with another child an item that is more valuable to them. Material: Items to be exchanged Letter to parents Activity: 1. Tell the students you are planning a day called Exchange City.

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This is a game that teaches students about exchange by using the common idea of a grocery store! Each student will be given a certain amount of money, and they will have the responsibility of buying the necessary items at the grocery store without running out of money!

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Money Game - Counting Money - The Grocery Game

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The Grocery Game - Practice Counting Money with this fun, hands-on Money Game

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This is a great demonstration of the French and English trade routes that show how far people had to go in order to trade for the things they needed to survive!

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Here is my lesson plan that we will be using to play "The Grocery Game" in our class to introduce the idea of exchange to the students!