Students, working in pairs, should discuss the following questions:
- What is ‘trade’?
- What is a modern example of trade?
- What are some of the benefits of trade?
- What are some of its costs?
Students will then share their answers with the class. What do students agree on? In what ways do they disagree?
Then, each pair of students writes a list of the costs and benefits of trade. You may ask them to write them on a T‑chart.
Next, using their list of costs and benefits of trade and what they already know from studying history and economics, ask students to briefly respond to this prompt in writing:
Acknowledging that trade has costs, describe some of its benefits. Provide one example of how trade enriches your own life.