Your task is to answer these questions:

  • What is barter?
  • Where does barter still occur?
  • What are three problems with barter?
  • What are the four main functions of money?
  • What are the necessary characteristics of money? You should find at least five, but there are more. Give examples to explain each characteristic.

Here is mjmfoodie on the topic but you only really need to watch from 48 seconds in until 3 minutes and six seconds in.

This video was created over 60 years ago, but is still a good introduction to the topic:

This is a well put together animation to show the problems with a barter system:

This video is also useful, but be careful, it mixes the characteristics up with the functions of money:

Think you’re getting the hang of it? Check this light-hearted approach to the topic: