37
Lesson 37 of 84 · Trade and Commerce
The Spice Trade
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
Every choice has an opportunity cost.
2
Money is a medium of exchange.
3
Needs are different from wants.
Check Your Understanding
Question 1
1 of 2What happens when demand is high and supply is low?