Goods and Services: Let's Make a Deal!
Students will be able to understand that bartering is the exchange of goods and services.
Introduction (5 minutes)
- To capture students’ interest, show them an item they would really like to have. Examples may include a candy treat, a favorite book, a pencil, or a homework pass.
- Then, tell students that you are willing to trade your item for another. Ask students to name some goods that they would be willing to exchange.
- Record this information on a t-chart under the category of "Goods."
- Next, tell students that you are also willing to trade your item for a service. Ask students to list some services that can be completed in the classroom. Examples may include sharpening pencils, erasing the boards, cleaning out desks, and tidying the room.
- Record this information on a t-chart under the category of "Services."
Explicit Instruction/Teacher Modeling (10 minutes)
- Refer back to the t-chart on Goods and Services. Tell students that the chart lists many goods, things that can be bought or held, and services, things that people do for others.
- Tell students that when people trade for goods or services it is known as bartering.
- Write this term on the board. Tell students that there are plenty of goods and services that you would like to barter for, but the decision isn’t always easy.
- Ask students to brainstorm some goods they would like to barter and to keep this information to themselves. After an allotted amount of time, ask students to write or draw their good on a blank sheet of paper.
Guided Practice/Interactive Modeling (5 minutes)
- Tell students that they will participate in an activity called Let’s Make a Deal.
- Explain that in this activity, they must take the drawing of their good, and find a classmate to barter with.
- Inform the class that when they find someone to barter with, they say, “Let’s make a deal!” If a deal is agreed, the students trade pictures. If a deal is not agreed upon, students continue to seek out a barter.
- Demonstrate a practice round using the item shown at the beginning of the lesson, and stressing, “Let’s make a deal!” when an agreement is reached.
- Explain to the class that once their original item has been bartered, they can decide to barter their new item as well.
Independent Working Time (15 minutes)
- With a given amount of time, students will actively participate in bartering their items.
- Monitor student interactions and encourage fairness when bartering.
- Enrichment: For students who need an extra challenge, ask students to think of a service they could barter versus a good. Ask students to barter at least three times during the activity.
- Support: For students needing support, provide premade visuals for easier bartering.
Assessment (5 minutes)
- To check for understanding, monitor the classroom as students are bartering.
- Actively listen to student conversations.
Review and Closing (5 minutes)
- Ask students what goods were easier to barter and which goods were more difficult.
- Ask students what they liked and disliked about this activity.