Trading Without Money: teacher key

Money, grade 3 edition, written for 3rd grade. Before money, people had to trade things. Learn why that was so hard, what people used as money instead, and how coins, paper money and banks came along.

Read the book. Print this page for the key.

Questions and answers

1. What is the problem with barter?
   • You can only trade shells
   • You need someone who has what you want and wants what you have (answer)
   • Banks will not take it
2. What are cowrie shells?
   • Gold coins
   • Paper bills
   • Small white shells (answer)
3. Who invented coins?
   • The ancient Lydians (answer)
   • People in China
   • Sellers of cattle
4. What are dollar bills made of?
   • Gold and silver
   • Cotton and linen (answer)
   • Feathers
5. Which of these is a need?
   • The movies
   • A new guitar
   • Clothes (answer)
6. What can a person do if they cannot yet pay for something they want?
   • Save until they have enough (answer)
   • Give the money away
   • Print a bill

Words

• barter: trading things
• cacao: chocolate beans
• electrum: gold-silver mix
• watermark: mark in paper
• bank: safe money place