How Does It Work? Money, episode 5: How Does the Economy Work? (Prices, trade, taxes and the future of money). Financial literacy for kids aged 8 to 12 and their grown-ups.

0:00 Intro
0:23 Supply and demand, and a tulip craze
0:50 Adam Smith and the pin factory
1:19 Why your things travel the world
1:47 Inflation, and money as building blocks
2:19 Where do taxes go?
2:47 What will money look like next?
3:20 Money words recap

Money words in this episode: Supply and demand, Specialisation, Trade, Inflation, Tax, Mobile payment

All episodes: https://howdoesitwork.fullstackpartner.com

Image credits (Wikimedia Commons):
"Jan Brueghel the Younger, Satire on Tulip Mania, c. 1640.jpg" by Jan Brueghel the Younger, Public domain, https://commons.wikimedia.org/wiki/File:Jan_Brueghel_the_Younger,_Satire_on_Tulip_Mania,_c._1640.jpg
"Garden strawberry (Fragaria × ananassa) single2.jpg" by Ivar Leidus, CC BY-SA 4.0, https://commons.wikimedia.org/wiki/File:Garden_strawberry_(Fragaria_%C3%97_ananassa)_single2.jpg
"Alfred Marshall 1891.jpg" by Elliott and Fry (London W., 55 Baker Street), Public domain, https://commons.wikimedia.org/wiki/File:Alfred_Marshall_1891.jpg
"Adam Smith The Muir portrait.jpg" by Unknown authorUnknown author, Public domain, https://commons.wikimedia.org/wiki/File:Adam_Smith_The_Muir_portrait.jpg
"Manufacture of needles Wellcome V0023631.jpg" by unknown, CC BY 4.0, https://commons.wikimedia.org/wiki/File:Manufacture_of_needles_Wellcome_V0023631.jpg
"François Quesnay.jpg" by Johann Georg Wille / After Jean Chevalier, Public domain, https://commons.wikimedia.org/wiki/File:Fran%C3%A7ois_Quesnay.jpg
"Camel caravan going through sand in the Sahara Desert.jpg" by Asfour hamza, CC BY-SA 4.0, https://commons.wikimedia.org/wiki/File:Camel_caravan_going_through_sand_in_the_Sahara_Desert.jpg
"MAERSK MC KINNEY MÖLLER & MARSEILLE MAERSK (48694054418).jpg" by kees torn, CC BY-SA 2.0, https://commons.wikimedia.org/wiki/File:MAERSK_MC_KINNEY_M%C3%96LLER_%26_MARSEILLE_MAERSK_(48694054418).jpg
"Río Saigón, Ciudad Ho Chi Minh, Vietnam, 2013-08-14, DD 21.JPG" by Diego Delso, CC BY-SA 3.0, https://commons.wikimedia.org/wiki/File:R%C3%ADo_Saig%C3%B3n,_Ciudad_Ho_Chi_Minh,_Vietnam,_2013-08-14,_DD_21.JPG
"Bundesarchiv Bild 183-R1215-506, Berlin, Reichsbank, Geldauflieferungsstelle.jpg" by Unknown authorUnknown author, CC BY-SA 3.0 de, https://commons.wikimedia.org/wiki/File:Bundesarchiv_Bild_183-R1215-506,_Berlin,_Reichsbank,_Geldauflieferungsstelle.jpg
"Ec 8 (26088200676) (cropped).jpg" by Federalreserve, Public domain, https://commons.wikimedia.org/wiki/File:Ec_8_(26088200676)_(cropped).jpg
"Decline of the antoninianus.jpg" by Rasiel Suarez, CC BY-SA 3.0, https://commons.wikimedia.org/wiki/File:Decline_of_the_antoninianus.jpg
"Pupils at a public elementary school in Kwara State.jpg" by Salamanda1, GFDL, https://commons.wikimedia.org/wiki/File:Pupils_at_a_public_elementary_school_in_Kwara_State.jpg
"Dublin Fire Brigade Pump Ladder D32.jpg" by William Murphy, CC BY-SA 2.0, https://commons.wikimedia.org/wiki/File:Dublin_Fire_Brigade_Pump_Ladder_D32.jpg
"Milwaukee Central Library Mar10.jpg" by Freekee, Public domain, https://commons.wikimedia.org/wiki/File:Milwaukee_Central_Library_Mar10.jpg
"M-PESA mobile money and Equity agent, Nairobi, Kenya.jpg" by Fiona Graham, CC BY-SA 2.0, https://commons.wikimedia.org/wiki/File:M-PESA_mobile_money_and_Equity_agent,_Nairobi,_Kenya.jpg
"M-Pesa on Nokia 1100 20120430.jpg" by Rosenfeld Media, CC BY 2.0, https://commons.wikimedia.org/wiki/File:M-Pesa_on_Nokia_1100_20120430.jpg
"M-Pesa service screen on a feature phone.jpg" by Ivan Small, CC BY-SA 2.0, https://commons.wikimedia.org/wiki/File:M-Pesa_service_screen_on_a_feature_phone.jpg

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