Microsociety Week 8

This week we learnt about inflation and recession, inflation is when a product or all products price is raised. Recession is when lots of businesses fail because of the economy. You would lose your job and get less money or even no money. Lots of other businesses fail because people don't buy their product or service because they don't have enough money for it.

Also we read the next part of the 'notenuf' story. In this part, one family started to make ropes and everyone wanted to buy them, so they kept on making them and they put their prices up so people would have to pay more seeds. After that, seeds were less value because there were alot more so they were alot easier to get so they started trading with different things.

This week when we did our trading, I didn't spend as much money as last week but I still bought a few things. I even stayed at our shop for a bit but it was hard work I had to fill in our ledger and do other things like check everyone pays the right amount and make sure nobody steals anything from the shop. Also we bought another table to keep more things on, so now we have loads of space.

Finally, we watched a video of 'The Wall Street Crash' it was when a city made things more expensive and some people became homeless, the luckily people would only still have a tiny bit of money.