1 Tulips came to Europe in the 1500s and quickly became popular. Tulips are valued for their beautiful colors and short life. Today there are tulip festivals all over the world and the most famous tulip festival is in the Netherlands. The Dutch have always been famous for their different varieties of tulips, but in 1636 something very strange happened. 2 In the Netherlands, tulips became a status symbol. Many rich people wanted to have exetic tulips to show everyone how rich they were. Tulips bloom only in April and May and can only be moved June through September. Therefore, if you wanted to buy a tulip in December, you could only buy a contract. Then you could get your tulip in June. The more popular tulips became, the more expensive they became. In January of 1637, people were paying ridiculous prices for tulips. One tulip sold for 3,000 florins (about 45,000 dollars). 3. The Dutch called this “tulip mania.” People were trading contracts for tulips and hoping to make more and more Fillin the blanks. something that one has or {does to show one’s economic situation an official agreement on paper to produce flowers strange and unusual because of coming from a far county, money. This is called a price bubble. Finally, in February 1637, the bubble burst and tulip prices dropped. Suddenly, tulips were worthless. Many people lost money and the Netherlands’ economy suffered. We still have price bubbles today, but not over tulips!Choose the main idea. @ Tulips are valued for their short life. ® There are many varieties of tulips in the Netherlands. © Tulip mania was a strange economic event. @ Price bubbles are common events today. Write T (true) or F (false). 1 Tulips bloom only in March and April. 2 The most famous tulip festival is in Germany. Choose the answers. 3 The Dutch are famous for their @status symbols ® tulips © price bubbles 4 The tulip price bubble burst in @ January 1637 © 1636 © February 1637 (RISRREEI 5 According to the passage, tulips can be moved in @ January ® November © May Summary Qos Listen and take notes. @economy @ the 1500s @ August