In this lesson, students participate in a hypothetical Athenian assembly to discuss the Athenian trade policy with Egypt. While Athenian farmland does not grow the wheat necessary to sustain the population, it is conducive to growing olives, which are used to produce olive oil—a valuable trade commodity. The Athenian assembly decides to send a trade delegation to Egypt to discuss trade terms with Egyptian merchants. Students learn that both parties can benefit by specializing and trading.
Lesson 9 Activities
Lesson 9 SlidesConcepts
- Absolute Advantage
- Comparative Advantage
- Cost
- Exchange
- Opportunity Cost
- Product
- Production
- Production Possibilities Frontier
- Voluntary Exchange
Standards in Economics and Personal Finance
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Related Lessons
Online Lessons
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