Wirtschaft und Recht bilingual: Let’s play the market
Trading goods and services means negotiating with your partners. We – the students of grade 9a – negotiated in a barter system last Saturday over fish and wild boars, loaves of bread and fruit.
We found out:
- Supply doesn’t always match demand. This means, sometimes the buyers don’t find enough of the goods they want to buy. Sometimes the suppliers can’t sell all their goods.
- It is important what kind of good or service you offer. In a buyer’s market the buyer has more negotiating power (supply > demand). In a seller’s market the seller has got an advantage over the buyer (demand > supply).
- Market transparency is important. As a player in the market you are at an advantage if you get information earlier or in more detail than your competitors.
- Saturday workshops can be fun at times