What is Money? Learn the Role of Money in a Free Market System
Students view a seashell and listen as the teacher explains that these were sometimes used as money. They listen as the teacher lectures on medium of exchange, barter, and commodity. Students determine the number of chickens it would take to buy a bicycle. They imagine they have no reliable food source, and re-evaluate their chicken/bicycle problem. Students work in groups to discuss characteristics of paper money that makes it more acceptable.