Economic Foundations

Chapter 5

As a child, you might have traded something you had for something a friend had. Each of you probably believed that the thing you gained was worth more than what you gave away. Both of you thought you were better off because of the trade.

In this chapter, you will learn how goods and services are bartered or sold and how economic systems are formed. As you read, consider how your daily economic choices impact the greater economy.

In this chapter you will study these topics: