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STARTER

STARTER. Monarchy Constitutional Monarchy Democracy Oligarchy Autocracy Dictatorship Representative Democracy. Rule by the people Rule by Parliament and a Prime Minister, with a king/queen as a symbolic figure Rule by a small group Rule by any 1 individual

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STARTER

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  1. STARTER Monarchy Constitutional Monarchy Democracy Oligarchy Autocracy Dictatorship Representative Democracy • Rule by the people • Rule by Parliament and a Prime Minister, with a king/queen as a symbolic figure • Rule by a small group • Rule by any 1 individual • Rule by force…usually associated with a totalitarian regime • Rule were a king/queen inherits power • Elected officials make decisions for the people they represent

  2. Barter Economy Day!!!!

  3. Answer the Following: • Your task was to barter and end up with something more valuable to YOU than when you walked in. Were you successful? Why or why not? • Describe what life might be like if there were no such thing as money. Would it be more difficult or easier to get the things you need? • How would our bartering experiment have gone different if instead of whatever item you brought in to trade, I gave you a $5.00 dollar bill? How would that have changed how people viewed you as a potential trading partner? • We all pay to get goods and services. You offered a good to trade. What if I had allowed you to offer a service? Would that have made bartering simpler or harder? • Why do you suppose money has basically replaced bartering in modern society?

  4. What Make Bartering Difficult? • Presence of double coincidence of wants • Absence of common measure of value • Indivisibility of certain goods • Difficulty in storing wealth

  5. Making Life Easier: MONEY!!!!

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