4TH Form Pob - Barter Money

RM POB
4TH FO
WELCOME!!!
TO OU R FI RS T CL AS S
tEACHE
R: MS. D
ONNECIA
MAYERS
TAKE NOTE
My classes are Mondays 4:00pm- 5:00pm
My office hours are Sundays 6:00pm-8:00pm
I will post in the chatroom which particular topic I am
teaching on the day.
I will be teaching a maximum of 25 students, first come
first serve!
I will be going in the order of the syllabus, unless you
all request a particular topic to taught. Therefore, I
would suggest returning to the class weekly if you can.
CLASS RULES!!
BE RESPECTFUL AT ALL TIMES
PARTICIPATE IN DISCUSSIONS
TURN ON YOUR MIC WHEN YOU WANT TO ADD TO
THE DISCUSSION
MUTE YOUR MIC IF YOU ARE NOT CONTRIBUTING
TO THE CLASS AND WHEN SOMEONE ELSE IS
SPEAKING.
THE CHAT BOX IS ONLY FOR ASKING QUESTIONS
AND TYPING INFORMATION RELATED TO WHAT IS
GOING ON IN CLASSES
FAILURE TO ADHERE TO THESE RULES CAN
LEAD TO:
being banned from class

being banned from the school
SOME IMPORTANT TERMS
outline IDENTIFY DIFFERENTIATE
DESCRIBE EVALUATE EXPLAIN

outline
An outline is a summary of all the available information
about a topic in a logical order, and should explain the
relationship between each point. An outline should just be
the main points, without any details. A question of this
type usually requires only a short answer.

IDENTIFY
simply point out and describe the main ideas in a short
and coherent way.

DIFFERENTIATE
you recognize or show the difference between them.
DESCRIBE
outline and give details about the characteristics of what
they are asking you for

EVALUATE
basically asking you to form a judgement of the matter at
hand giving reasons why.
pros and cons

EXPLAIN
expect you to basically clarify a topic. When answering
such questions, it helps to imagine you are writing for
someone who knows absolutely nothing of the subject.
And remember two things. To provide as much detail as
possible, and to give definitions for any jargon or key
terms when used.
SUBSISTENCE ECONOMY
a system where people simply
produce enough to survive on
an individual, family or group
basis
Brathwaite's Village
SUBSISTENCE ECONOMY
a system where people simply
produce enough to survive on
an individual, family or group
basis
Brathwaite's Village
BEFORE MONEY EXISTED?
WHAT DID PEOPLE DO
BARTERED!
BARTER?
WHAT IS IT?
This is the exchanging of goods and services for other
goods without using money.

It required that the two persons involved in the exchange
had what each other wanted.

BARTER? SO MR.BROWN AND I ARE

HAPPY BECAUSE:
We traded without having to use money.
We both got rid of the surplus of goods we had by trading
There was more availability of goods
That process of exchange laid the foundation for the
organized way of trading we have today.
ADVANTAGES
BARTER?
BUT WHAT IF? I'M VEGAN
THEN WHAT?
BARTER?
BUT WHAT IF?
Barter is not possible if there isn't a double coincidence of
I'M VEGAN
wants. In the case of Mr. Brown and I, He had what I wanted,

but I didn't have what he wanted.
There is difficulty finding an equitable exchange rate. How
many potatoes is worth one chicken?
There are often difficulties in dividing goods fairly. I now
have to divide my chicken into 5 parts to get 30 potatoes.
It doesn't allow me or Mr. Brown to store wealth. Chicken
doesn't last forever. Neither do potatoes.
DISADVANTAGES
AS TIME WENT BY
People realized that they could use small valuable items to
facilitate exchange instead of using goods.
cowrie shells beads animal teeth

AS TIME WENT BY
Monetary(money) systems were introduced in order to combat
the challenges associated with barter and so market economies
/ money economies started to engage in purchasing goods and
services using money.
But money in what form?
cowrie shells beads animal teeth

These small valuable items were accepted as money
back then. Items like these were the earliest forms of
money...
BUT WHY?
BECAUSE...
THEY HAD THE SAME CHARACTERISTICS
OF MONEY!
=
AND SO...
THEY TOOK ON THE ROLE OF MONEY

...
=
YOU
ULD
CO
TELL ME SOME OF THE

CHARACTER IS T IC S OF TH E S HE L LS ,
BEADS AN D TE E TH T HA T W OU L D M AK E
THEM TA KE O N T HE R OL E O F M ON E Y?
CHARACTERISTICS
SCARCE:
Shells , beads etc were limited in number which made
them scare and as a result valuable.
Money is also scarce which makes it valuable.

CHARACTERISTICS
ACCEPTABLE:
People were willing to accept to accept shells as money
because they knew it could be used for future trading
purposes.
CHARACTERISTICS
PORTABLE:
these shells could easily be carried for long distances.

CHARACTERISTICS
DURABLE
the shells were hard wearing , long lasting and did not
spoil easily.
CHARACTERISTICS
DIVISIBLE
Similar to money, the shells could be supplied in different
amounts to purchase items of various sizes/ amounts.

THEREFORE...
WE CAN SAY T HAT TH E

CHARACTERISTICS OF MON EY ARE..
CHARACTERISTICS/FEATURES OF MONEY:
ACCEPTIBILITY:
SCARCITY:
DIVISIBILITY
PORTABILITY
DURABILITY
WHAT DOES MONEY DO? WHAT IS IT'S FUNCTION?
IT IS A MEDI UM/ FACILITATOR OF

EXCHANGE
Money is accepted as a means by which you can pay for
goods and services.
When you are buying something, you give the seller
money in exchange for the item being bought.

IT IS A UNIT OF ACCOUNT
It allows for measurement and comparison of the value
of different things.
the price of an item can be measured by how many units
of currency it is worth.
A poor quality phone may cost $100, but a high quality
one may cost $700 an up
A STORE OF VALUE
Money can be saved and used in the future without its
value.
A STANDARD FOR DEFERRED PAYMENTS

Money can be borrowed and paid back at a later date.

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RM POB

being banned from class

outline IDENTIFY DIFFERENTIATE

DESCRIBE EVALUATE EXPLAIN

about a topic in a logical order, and should explain the

relationship between each point. An outline should just be

the main points, without any details. A question of this

type usually requires only a short answer.

and coherent way.

they are asking you for

hand giving reasons why.

pros and cons

such questions, it helps to imagine you are writing for

someone who knows absolutely nothing of the subject.

And remember two things. To provide as much detail as

possible, and to give definitions for any jargon or key

terms when used.

produce enough to survive on

an individual, family or group

produce enough to survive on

an individual, family or group

goods without using money.

had what each other wanted.

BARTER? SO MR.BROWN AND I ARE

We both got rid of the surplus of goods we had by trading

There was more availability of goods

That process of exchange laid the foundation for the

organized way of trading we have today.

wants. In the case of Mr. Brown and I, He had what I wanted,

People realized that they could use small valuable items to

facilitate exchange instead of using goods.

cowrie shells beads animal teeth

Monetary(money) systems were introduced in order to combat

the challenges associated with barter and so market economies

/ money economies started to engage in purchasing goods and

services using money.

But money in what form?

cowrie shells beads animal teeth

back then. Items like these were the earliest forms of

THEY TOOK ON THE ROLE OF MONEY

TELL ME SOME OF THE

Shells , beads etc were limited in number which made

them scare and as a result valuable.

Money is also scarce which makes it valuable.

People were willing to accept to accept shells as money

because they knew it could be used for future trading

these shells could easily be carried for long distances.

Similar to money, the shells could be supplied in different

amounts to purchase items of various sizes/ amounts.

WE CAN SAY T HAT TH E

IT IS A MEDI UM/ FACILITATOR OF

goods and services.

When you are buying something, you give the seller

money in exchange for the item being bought.

the price of an item can be measured by how many units

A poor quality phone may cost $100, but a high quality

one may cost $700 an up

WHAT DOES MONEY DO? WHAT IS IT'S FUNCTION?