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Trading Challenge Economics
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Trading Challenge Economics
📈 Part 1: Economic Concepts
1. What is "value" in economics?
The price tag on an item
How much someone is willing to pay or trade for something
The cost to make something
Always the same for everyone
2. Which of these are examples of barter? (Tick all that apply)
Trading your lunch for a friend's chocolate bar
Buying a book with $20
Swapping your old phone for someone's bike
Exchanging babysitting for guitar lessons
3. A trade-off occurs when:
You get everything you want
You give up one thing to get another
You trade with a friend
You save money
4. Fill in the blanks: In economics, ________ are things we must have to survive, while ________ are things we would like to have but can live without.
needs, wants OR wants, needs
🔄 Part 2: Trading Challenge Planning
5. Your starting item for the trading challenge is: ___________________
6. List three factors that might make an item valuable to different people:
7. Describe your trading strategy. What type of items will you look for and why?
8. How will you decide if a trade is worth making?
📝 Part 3: Trade Reflection
9. After your first trade, complete this reflection:
Item I traded away: _________________________
Item I received: _________________________
Who I traded with: _________________________
10. Explain why you thought this was a good trade:
11. What did this trading experience teach you about how value works in real life?
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