Trade and Barter: A Trading Simulation

Welcome to the world of economic exchange! Throughout history, people have traded, bartered, negotiated, and haggled in order to receive the greatest amount of goods for the lowest cost. From the direct trade of goods to the use of currency, people have found ways to satisfy their wants and needs. This trade simulation provides students with an opportunity to barter with imaginary resources and goods in order to obtain points. The premise for the simulation is the combination of resources. In the activity, there are 19 resources that can be combined to form 19 different goods, each with a different value. There are two activities incorporated in this packet. Activity 1 assigns three resources to each student. The students then trade for other resources in order to make goods. Activity 2 involves role playing. Students are given a role and the resources and goods involved in that role. Students then trade the resources and goods to obtain the highest number of points. The simulation is a perfect way to address economic concepts like scarcity, goods, producers, and consumers. It can be implemented in economics, social studies, and even math classes as it requires students to do basic mathematical computations. Included in this packet is everything that you need as a teacher to turn your classroom into a market full of bartering students!