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In this lesson, students view a video on the characteristics and functions of money Based on the information they learn, they work in small groups to analyze a series of scenarios and determine which characteristic or function of money is being described
To experience problems with barter, students participate in a simulation in which they barter to obtain ingredients to make cookies. Repeating the simulation using money, they learn about the advantages of using money.
In this lesson, students learn about Benjamin Franklin's role in shaping and understanding of the role of money in the economy. By participating in a trading activity, students learn about bartering, characteristics and functions of money, and inflation.