Bartering, trading, supply and demand

Bartering, trading, supply and demand

Barter

Multiple Choice

Barter is when you negotiate a good or service for something else without using money

Trade

Multiple Choice

Trade is when you buy, sell, or exchange an item with someone else

What is the main difference between barter and trade?

• Barter does not use money

• Trade uses money

Supply and Demand

Supply

• The amount of goods or services that people can SELL is called SUPPLY

• Just remember SELL=SUPPLY and they both begin with the letter "S"

Demand

• The amount of goods and services that people WANT and can BUY is called DEMAND

• When you WANT something you might DEMAND that your parents BUY it for you

Supply and Demand

• In order for people to buy stuff, there must be a supply of things.

• Without supply, demands couldn't be met

Multiple Choice

The amount of goods and services that people sell is called

• Supply

• Demand

Multiple Choice

The amount of goods and services that people want and can buy is called

• Supply

• Demand

Import and Export

• Import means bringing products and resources into one country from another

• IMPORT=IN they both start with "I" when things are imported, they are taken in

• Export means to send products and resources from one country to another

• EXPORT=EXIT both start with "EX" and exit means to leave, so when products are exported they are leaving one country to go to another

Multiple Choice

Which word means to bring products and resources into one country from another?

• Import

• Export

Multiple Choice

Which word means to send products and resources from one country to another?

• Import

• Export

Multiple Choice

Barter is when you negotiate a good or service for something else without using money