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SS4E1 d Explain how voluntary exchange helped both Native Americans and colonists.

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Presentation on theme: "SS4E1 d Explain how voluntary exchange helped both Native Americans and colonists."— Presentation transcript:

1 SS4E1 d Explain how voluntary exchange helped both Native Americans and colonists.

2  Economics is the study of the making, buying, and selling of goods or services.  Today we will learn about the economic concept of voluntary exchange as practiced by Native Americans and Colonists.

3 Voluntary Exchange takes place when one person trades with another. It only works if both parties get something they need. Native Americans and colonists sometimes traded with each other I have lots of extra corn. I will trade you some cloth for your corn.

4  People will trade if they both get something from it.  The colonial woman trades a bolt of cloth for corn.  She needs the corn to feed her family.  The Native American woman needs the cloth to make clothing. Yes, I will trade my corn for your cloth.

5  Voluntary exchange always helps both parties.  Voluntary exchange was used in the system of colonial trade. (barter)  The colonists and Native Americans swapped goods that they had for things they needed. I will trade beaver furs for some of your tools. I can use beaver furs. I will trade my tools for them..


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