| Trading Around the World |  |
| Trading Around the World | |
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In order to get the most benefit from the trade simulation game, you must answer the following questions. This is a formal writing assignment, therefore you must write the question first, and then answer it in a complete sentence. Your work may be typewritten. #1. What do the letters 'IMF' stand for? (You will find this in your textbook.) #2. What is meant by 'monetary wealth'? #3. What is meant by a 'commodity'? #4. What is meant by 'raw materials'? #5. What would you do if you wanted to trade with a country, but they would not accept your money? Now that you have become familiar with the terms, it is time to play the trade simulation game. Throughout the game, you must keep a record. Here is what you must record: #1. What trader you have chosen and from what country. #2. How much money you have at the beginning of the game. #3. The list of goods you acquire throughout the game. #4. The amount of money, if any, you have left at the end of the game. You must try to buy at least one item from each continent. Read the game introduction and instructions thoroughly. You may play as many times as you¹d like, as long as you keep the records listed above. When you are finished, come back to this quest to answer some final questions. (Again, these are to be answered as a formal assignment.) Click HERE to begin the game. Final questions: #1. What type of wealth (monetary, commodity, or raw materials) did you try to accumulate and why? #2. How does the IMF help the flow of trade? #3. What do buyers from different countries have to be able to do before they can buy or sell from each other? #4. If you were a new country, would you join the IMF? Why or why not? #5. After playing through the scenario, "Why do we need the IMF?", write an essay describing the difficulties of international trade without the IMF. |