- Definition
A transaction is simply when people trade things, like buying a toy with money or swapping a service for something else.
Paying two dollars for a bottle of juice is a transaction where money is exchanged for a good.
How to teach this in 30 seconds
Try this analogy: A transaction is like giving the cashier money to buy a snack at the store.
Ask your child: What did you give, and what did you get, the last time you bought something?
Common mix-up: Kids often think a transaction must involve money. A transaction is any exchange, like trading a toy for a sticker.
Examples
- Doing chores to earn an allowance is a transaction where work is exchanged for money.
- Trading a red crayon for a blue crayon with a friend is also a transaction.
transaction is a term used in Ontario’s Kindergarten to Grade 8 curriculum.
Where this shows up
The descriptions on this page are SmartStudy’s own original, plain-language writing — not the Ministry’s wording. They are aligned to the Ontario Curriculum, © King’s Printer for Ontario. For the Ministry’s official wording, see the source link below. SmartStudy is an independent service and is not affiliated with, endorsed by, or sponsored by the Government of Ontario or the Ministry of Education. Ontario Curriculum and Resources ↗
