I tried trading middle names with my cousin once. We both hated our middle names. His middle name is Alvin, and I liked Alvin from Alvin and the chipmunks, so there was value in it for me. Was it a fair exchange? Well it’s not that simple. That brings us into the time value of money. As I’ve gotten older, and less into Alvin and the chipmunks, the name Alvin has lost almost all value to me, so it’s worthless now. However, at the time, I think I came off better than him, as my middle name is Randall… and there weren’t any cool cartoon characters called Randall.
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[quote=“Arami_Alfarhani, post:1, topic:15693, full:true”]
Describe a barter transaction that you’ve been a part either as a child or adult.
List the two items in the barter transaction and, looking back, did you think it was a fair exchange and why?
I traded a compact disc for some books.
I thought it was fair as I didn’t care for the music much and got a lot out of the books.
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In order to.get.my.Nintendo, I needed to clean my parents cars.for 3 months. Not a bad exchange.
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I will never forget one particular barter transaction that I made back in my early 20s because it taught me an expensive lesson that has always stayed with me about supply and demand, in particular. I was young and needed funds to pay rent and resorted to selling a prized Dan Wesson .357 magnum revolver and a Colt 1911 style 10mm pistol. The mother of a coworker heard about this opportunity and offered to trade a very nice but gaudy woman’s diamond watch for my two babies. At the time, my revolver and pistol, together, were worth around $900. I figured I could easily get $1500-$2000 for the watch because, you know, it’s a FREAKING diamond watch, right?! What I didn’t realize was how specific a market watches and jewelry were, and are. At the time, I was thinking of retail price when I should’ve been thinking wholesale. Needless to say, I have never been able to come close to what those two guns were worth, and that damn watch is still sitting in my safe! A precious lesson that I will never forget. I think, subconsciously, I still have that damn diamond watch because I need it as a reminder not to repeat such folly. Oh well, maybe one of my kids or grandkids can use it to get through a checkpoint or pay off a corrupt official during the next societal crash, LOL!
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Just recently i traded meal in our restaurant for marketing co-operation. I think that in this kind of cases it´s a good deal when two entrepreneurs exchange their products with each other but dosn´t work in the bigger scale.
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Describe a barter transaction that you’ve been a part either as a child or adult.
List the two items in the barter transaction and, looking back, did you think it was a fair exchange and why?
we used to exchange videotapes and books
In primary school we used to play poker with lollies as poker chips.
When I was a kid I exchange my color pink bag to my sister’s color yellow bag.
Barter Transaction: Pink Bag & Yellow Bag
It was fair, because when I was young my favorite color was yellow💛
Activity,
- A brief History of Money.
A barter system occurred during my adulthood doing business transaction. I exchanged my 20 bags of rice for 100 bags of cassava.
The two items involved in the transaction were 1. Rice grains and
2. Cassava.
I did not think it was a fair deal because they were willing to give up so much amount of cassava just to acquire the rice. The rice was the most valuable in the transaction, I guessed that was why.
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I remember trading Sarah Kay cards as a kid. Supply and demand played a key role on this as the more difficult card to find (scarcity) worth up to 5 of the others that were not so popular (abundance) In other words, the value of most popular card was inversely proportional to the others.
I am one of six children, two girls and four boys.
From time to time we would get a bag of ‘Haribo Starmix’ to share.
We would have to sort them one by one into six even piles to be fair.
Anyone snatching from the bag would lose one from their pile.
I always favour the cola bottle, my sister would always favour the gummy bear.
I knew i could get a cola bottle i exchange for a gummy bear, even with the clear weight difference.
In my view this was a fair exchange compared to some with my other siblings.
Although I would offer two gummy bears for one cola bottle had i not received any in my primary pile.
Everyone has there own preferences.
I can’t remember any barter transactions as far as I am thinking.
It is strange that I never did it!
Probably I wasn’t one of the smartest guys in my area.
Describe a barter transaction that you’ve been a part either as a child or adult.
List the two items in the barter transaction and, looking back, did you think it was a fair exchange and why?
When I was a child my parents would tell me that if I did the assigned chores in exchange I would receive funds. For example if I ironed all my fathers shirts I would earn five dollars.
You asked the question do I feel it was a fair exchange, no,. I believe the time I spent on pressing the shirts was worth way more than five dollars.
I can’t remember anything, but then, the 1970s are a long long time ago.
Money Masters is a good doc, from back in the day.
During my childhood I would trade baseball and football cards with my friends. Both parties were happy as we believed we were both getting the appropriate perceived value for each exchange.
I remember trading football stickers when I was a kid. Famous players like Messi had more value than other stickers because they where more in demand.
Yes, it was a fair exchange because we would agree upon the exchange rate for every transaction.
We used to exchange trading cards, stickers and so on in school, but I can’t remember if the exchanges were worth or not. However recently we’ve been playing Monopoly a lot with friends and when all the properties are bought out the big negotiations begin, because every player wants to have a full neighbourhood in order to start building houses and hotels 
So I’ve made quite some barters in the game, property for property/property for cash. In order for it to be worth though you always had to have a little bit of cash on the side to start building those houses/hotels right away so that the players would pay you the big fees when they stepped on them. That was the quickest way to win the game :))
i often do exchange of services , giving a massage in turn of photoshoot, usually the amount of timeinput is then a good meassure for wheater it is fair.
I remember changing stickers with my friends at school. Some stickers were very common and some other very rare. You could get a rare sticker for 10 or more common stickers and you felt very happy with the deal.
I remember a long time ago that me and my friends would trade snacks during lunch , and most of the time it was worth it . This would be an example of a barter transaction