5
Lesson 5 of 84 · Economics
Saving and Spending Wisely
Money makes trading easier. Before money, people bartered directly. Coins and paper money were invented to make transactions simpler and more consistent.
Key Facts
1
Trade connects people globally.
2
Every choice has an opportunity cost.
3
Money is a medium of exchange.
Check Your Understanding
Question 1
1 of 2What is an opportunity cost?