Barter, indirect barter

• Economie
• Middelbare school
• vwo
• Leerjaar 3

Welcome

Homework: exercise 11 on page 17

Barter

Indirect barter

Specialisation

Labour productivity

Exercise 11 A

€ 4.50 per week

€ 4.50 X 52 weeks = € 234 per year

€ 234/ 12 months = € 19.50 per month

Exercise 11 B

€ 120/ 12

€ 240/ 12

€ 240/ 12

€ 10.5 X 52 = € 546<div>€ 546/ 12 = € 45.50</div>

€ 228/ 12

Total expenses: € 65 + € 46 + € 39 = € 150

Exercise 11 C and D

The monthly income of € 155 is bigger then the total expenses of € 150  

Exercise 11 D

She doesn't have to purchase a bike next year

She saves € 228

Plus she can save € 5 each month (155- 150)

€ 5 X 12 = € 60

She can buy € 60 + € 228 = € 288 worth of non-recurring high charges

Barter

Exchanging goods or services

                                   (without the use of money)                                              

Which means were used as money

Means used as money

Shells

Salt 

Coffee beans

Cocoa beans

Paper currency (notes)

Disadvantages barter

• You need a mutual benefit -->
  
• find someone who has what you want and who wants what you have
  
• Transporting sacks of grain is difficult
• Your merchandise can spoil
  
• Difficult to determine an exchange ratio
  
• (how many sacks of grain for a boat)
  
• Some things are indivisible (a boat)

Advantages money

• Everyone accepts money
• You can specialise in one job and improve your skills
• As you specialise your labour productivity will increase
• labour productivity = the number of items an employee can produce within a specific time period

What would be a reason for people switching from indirect barter to barter again?

Groepen

Hot seat

One person holds the card and knows the word

Other people ask questions

Only to be answered by yes or no

Try to find the word!!

Definitions

Indirect barter

goods <--->money <-----> goods

Money allows people to specialise 

focus on one product or service

Labour productivity increases 

--> production per person 

Exercises

Read	Exercises	Check answers
Page 19	1 - 4	Answer sheet
Page 20	5 - 6	Answer sheet
Page 21	7 - 10	Answer sheet

Make your own crosswordpuzlle

Go to puzzelplatform.nl

Choose 'zelf een kruiswoordpuzzel maken'

Don't choose a thema!

Insert words and hints --> use the economic definitions!!

Generate the puzzle

Homework

Read	Exercises	Check answers
Page 20	2 - 4	Answer sheet
Page 21	5 - 6	Answer sheet
Page 22	7 - 10	Answer sheet