Trade

Relevant SEAL outcomes

39: I can communicate effectively with others, listening to what others say as well as expressing my own thoughts and feelings…

43: I can work and learn well in groups, taking on different roles, cooperating with others to achieve a joint outcome…

Topic Aims

From the programme of study for economic well-being at key stage 3:

1.4 Economic Understanding a. understanding the economic and business environment.

b. understanding the functions and uses of money.

Learning Outcomes

Students work in groups to understand the concept of trade.

Students experiment with trading styles and approaches.

Introduction

Introduce the concept of trade by splitting the class into 3 groups – call them A, B or C or whatever they choose.

Now hand the first group a box of biscuits, seeds or fruit; the second group a bottle of water and plastic cups; the third group some Lego bricks. Explain that these items represent basic human needs. Ask the class to guess what they might be (food, water and shelter).

Now the class have to imagine that each group lives on an island where they don’t have the resource that the other groups have. How can they get food or water if they only have bricks for building houses?

The answer is that they can trade. Ask each group to select two people to represent them in the trading discussion.