Endowment
EconExperiments
- Trade
<<This experiment is contributed
by Professor Ka-Fu WONG of
the University of Hong Kong.>>
| Discussion forum--- Please leave your valuable comments or questions here! | |||
| Concepts & Keywords Illustrated: | |||
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Gains from trade | ||
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Medium of exchange | ||
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Endowment |
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Preference | ||
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Voluntary trade | ||
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Relative price | ||
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International trade |
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| Brief description: | |||
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To discover the reason behind voluntary trade. | ||
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To derive one of the properties of money - medium of exchange. | ||
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To experience how competition drives down prices. | ||
Teaching Materials:
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