Grade-3, Social Science, Chapter-8 Barter
Chapter 8
Topic: Barter
Section
A
Q. What exactly is barter?
Ans- Barter is a system in which people exchange
goods or services for other goods or services.
For example- (1) an
apple for an orange (2) food for cleaning the room
Q. Look at the conversation
and write what is being bartered, and for what?
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A: What will you have sir?
B: I’ll give you this pen for a
medium French Toast.
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Pen, Medium French Toast.
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A: I need your service.
B: …..and I need your service!
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Service of A, Service of B
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A: I need your CD
B: I need your book.
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CD, book
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A: Can I use your bag in exchange
of shoes?
B: Yes, Of course.
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Bag, shoes
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A: What will you give me in
exchange of this crate of fruits?
B: I can give you this bird.
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Crate of fruits, bird
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Q. Given below are
some examples of barter. Write the type of exchange to which they belong near
each example on the blank provided.
Type A: one good for
another good
Type B: one good for a
service
Type C: a service for
a good
Type D: one service
for another service
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Examples
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Type
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Tony exchange his bike for a
computer game his friend had.
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A
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A man read a letter to a blind man
in exchange for a pen.
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C
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A farmer gave milk to the man who
gave him seeds to plant.
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A
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A shopkeeper gave his spectacles
to a girl who wrote his accounts in exchange.
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B
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You agree to teach your friend to
draw a car but tell him to teach you to play the guitar in exchange.
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D
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Q. Explain any one
benefit of using money to trade.
Ans- There is no ‘coincidence of
wants’ required. Money can be used to purchase anything.
Q. How do traders pay
for things when they do not barter? Give examples.
Ans- Traders pay money for things
when they do not barter. For example- A shoe company may buy boxes for their
shoes from another company that makes them.
Section
B
Q. Give an example that explains ‘coincidence of
wants’ that you have experienced in life or read about.
Ans- My father drops me and my friend to school every day and his father
comes to pick us.
Q. Captain Orb wants to test your knowledge. He has
given you examples of trade. Tick in the correct column to identify who trades
with whom. He has given you a hint.
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Examples
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Trade is between
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Individuals
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Businesses
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Countries
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A tailor supplies dress to a costume designer
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✓
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Pakistan buys rice from India
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✓
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A merchant buys silks from an Indian weaver to sell in Europe
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✓
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A restaurant buys bread from a bakery
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✓
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China sells toys in Indian market
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✓
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Camlin sells its stationery to shops
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✓
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A cobbler buys tools from a blacksmith
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✓
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Q.
Match the examples with the problems of barter.
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Example
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Problem of barter
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[a]Tina does
not like her tiffin. Her mother has packed sandwiches but she wants to eat
chips. One of her friends got chips but does not want to give the packet in
exchange for sandwiches.
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[c] Unfair
deal
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[b] Tarun has
two houses. He wants to barter one house in exchange for a world tour on a
car. However, the travel agent who is willing to give him a world tour cannot
give him the car. He cannot give one house to two people.
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[d] Difficult
to price
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[c]Pinky was
on her way to school and her shoe broke. She could not walk. There was a
cobbler beside the road. However he wanted her school bag and watch in
exchange for repairing the shoes.
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[b] It is
difficult to divide some goods
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[d] Rahul’s
dog has 6 puppies. He wants to give away four of them. His neighbor bakes
cakes and is offering to bake him as many as he wants. Rahul cannot decide
how many cakes to order.
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[a] No ‘coincidence of wants’
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Section
c
List five things that you have bartered or exchanged
in the past one month. What did you take in return? Were you happy with the
exchange? (yes/no) Complete the following table.
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I gave a/an…
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In exchange
for
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(what did you take?)
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Were you happy with the exchange? (yes/no)
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Book on Harry Potter
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Thea Stilton and the Frozen Fiasco
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Yes
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Eraser
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Red sketch pen
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Yes
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Banana
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Burger
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Yes
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Frosty Fridge shopkin
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Wandy wedding cake shopkin
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Yes
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Q.
StarStruck was hungry but had no money. A shopkeeper agreed to barter a biscuit
packet for StarStruck’s time machine and space suit. Do you think it was an
honest deal?
Ans- No, it was
an unfair deal.
Q. Your teacher will tell you the story of Jack
and Beanstalk. Listen carefully and answer the following questions:
a)
What happened when Jack swapped the beans?
Ans- Jack
swapped the cow for beans with a beans-dealer because he was reckless.
b)
Was it a fair swap? Why? Why not?
Ans- It was not
a fair swap because a cow is costlier than beans.
c)
Why do you think Jack swapped the beans?
Ans- Jack
swapped the beans because he was reckless.
d)
How did Jack’s decision proved to be a good one?
Ans- Jack’s
decision was proved to be a good one because he became richer using the
beanstalk.
Look at the following
picture and answer the following:
a)
How do you think Mr.
Morten was planning to pay the doctor?
Ans- I think Mr. Morton was planning to pay the
doctor by giving one animal.
b)
Do you think that the
doctor will agree to take what Mr. Morton is willing to offer? give
reason for your answer.
Ans- I think that the doctor will not agree to
take what Mr. Morton is willing to offer. This is because animals are of no use
for the doctor.
Apples and ice creams
(a)
You have planned a
birthday party with a game that involves apples. If you had ice creams to exchange
for apples and party hats, how many would you exchange? draw a number of ice
creams in the given space.
(b) If your friend did
not have apples but an apple tree that had to draw apples, what would you
do?
Ans- I cannot barter if my friend
does not have apples available at present.
(c) If your friend
offered you (fill in the blanks with a number) 10 ice creams and asked
for six apples in return would you agree? (yes/ no)
(d) If your friend
offered you (fill in the blanks with the number)
4 ice creams and asked for 9 party hats in return,
would you agree? (yes/ no)
Give two examples of websites
that are used for barter today.
Write what kind of
goods or services are bartered.
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Example 1
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Url:
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Types of goods /
services bartered:
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Consumer products, Medicines, Corporate
gifts, Hotels and Resorts, Advertising on print, electronic, outdoor and
digital media
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Example 2
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Url:
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Types of goods /
services bartered:
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unwanted gifts, household items,
service one can provide.
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Fill in the blanks.
a) Something used as a medium of exchange or money
is called trade.
b) To exchange one good or service for another is to
barter.
c) The card that electronically deducts a purchase
amount directly from users bank account is a debit card.
d) Examples of currencies of different countries
are US Dollar of United States and Euro of European
Union.
Section
E
Q. What is barter?
Give examples.
Ans- Barter is a system
in which people exchange goods or services for other goods or services.
For example- (1) an
apple for an orange (2) food for cleaning the room
Q. What does
‘coincidence of wants’ mean?
Ans- A coincidence
of wants is the luck (chance) a person has when he/she finds another person who
is willing to exchange with him/her, whatever he/she wants.
E.g. If Raju wants
something that Mohan has, Mohan shouSection D
ld want something that
Raju has.
Q. What are the problems of barter?
Ans- Following are the
problems of barter:
1.
If there is no
coincidence of wants, it is difficult to get what you want.
2.
It is difficult to put a
price to goods because there is no money involved.
3.
The deal may be unfair.
4.
It is difficult to
divide some goods.
Q. Which is better system- barter or trade? Explain your choice.
Ans- Trade is a better
option than barter because in trade, money is involved which has a fixed price
and there is no need for coincidence of wants.
Q. What are the benefits of using money for exchange?
Ans- Following are the
benefits of using money for exchange:
1.
Money has a fixed value
unlike goods.
2.
There is no need of
‘coincidence of wants’ when money is used.
Q. Is barter still
carried out today? Explain your answer.
Ans- Yes, barter is
carried out even today. People exchange goods or services with friends or neighbours.
Many people barter on internet. Some websites allow to contact people who want
to barter/ swap things.
Q. What is trade? Who
trades?
Ans- Buying and selling
of goods and services using money is called trade. Two people, businesses and
countries trade with each other.
Q. Give an example of
trade or barter that you have carried out.
Ans- I
exchanged my of book of Panchtantra with my friend’s Harry Potter novel. This
is an example of barter.
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