OLS 5th ELA Lesson 12.2 From Barter to Bitcoin Wrap-up

Refer to the article “From Barter to Bitcoin” in your Money, Money, Money magazine for a complete version of this text.

Based on the information in “From Barter to Bitcoin,” one can conclude that when it became inefficient to fulfill their needs and wants through trade, people began using currency.

Which detail from the text best supports this conclusion?

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    “As cities blossomed and farming progressed, the barter economy no longer worked so well.”

• “People started growing crops and raising animals such as goats and pigs.”

• “The original currency was probably a measure of grain, such as a bushel of wheat or barley.”

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    “The toolmaker can then use that money to buy new boots directly from the shoemaker.”

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Refer to the timeline in “From Barter to Bitcoin.”

Based on the information in the timeline, farming spreads as people settle in villages.

What happens as a result of this?

• Coins are introduced as a way to pay bills.

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    Trade among people creates a need for currency. 

• Special tools are invented to create currency.

• Paper money takes the place of metal coins.

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Read the excerpt from “From Barter to Bitcoin.”

Three friends have just spent an hour gathering colorful rocks at the beach. They arrange their finds on a beach towel and get ready to trade.

Megan sees that Pedro has a bright blue rock. Blue is her favorite color.

“How many of my shiny pink stones do you want for that bright blue rock?” Megan asks Pedro. She has plenty of shiny pink stones, but not a single blue one.

Pedro thinks for a moment and then says, “Five pink stones.”

“Five?” Megan says. “That is a lot. Will you take three?”

Sneha interrupts. She also loves blue. “I will give you this dark green rock for that blue one,” Sneha tells Pedro. Sneha knows that Pedro’s favorite color is green.

“Sold!” Pedro exclaims.

“Rats!” Megan grumbles.

Choose the conclusion that can be made from the information in the excerpt.

• Pedro is willing to take just one green stone in exchange for his blue one because he likes Sneha better than Megan.

• Pedro asks Megan for five pink stones in exchange for his blue stone because pink stones are worth a great deal to him.

• Sneha offers Pedro one green stone for his blue stone, and he agrees to the trade because the green stone has value to him.

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Refer to the article “From Barter to Bitcoin” in your Money, Money, Money magazine for a complete version of this text.

Which statement best describes how the author uses more than one structure to present information in “From Barter to Bitcoin”?

• Problem-and-solution structure is used to explain why debit cards are most popular today.

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    The author contrasts different types of early money to show how some countries were more advanced than others.

• The author uses comparison to show how the value of bitcoin can vary wildly.

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Refer to the article “From Barter to Bitcoin” in your Money, Money, Money magazine for a complete version of this text.

Which detail from the text best explains why many people are wary of using bitcoin?

• It has only been in use since 2009.

• It is only one of more than 3,000 cryptocurrencies.

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    Its value changes frequently and dramatically.

• Its form is digital, so it does not seem real.

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