Money, Credit & Investment A Partnership Approach Chris Cook Partnerships Consulting LLP.
Unit 2 Lesson 5 Money. Game Plan ► Find out why we use money. Complete an assignment about money...
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Transcript of Unit 2 Lesson 5 Money. Game Plan ► Find out why we use money. Complete an assignment about money...
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Unit 2 Lesson 5Unit 2 Lesson 5
MoneyMoney
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Game PlanGame Plan
►Find out why we use money.Find out why we use money. Complete an assignment about money in Complete an assignment about money in
groups.groups. Mr. Cook says a few things about money.Mr. Cook says a few things about money. Group Activity-The Functions of MoneyGroup Activity-The Functions of Money Money quiz--open notes, closed mouthMoney quiz--open notes, closed mouth Re-CapRe-Cap
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Group AssignmentGroup Assignment
►Why is money useful?Why is money useful?►Your group Your group mustmust try to think of try to think of two two
differentdifferent reasons why money is useful. reasons why money is useful.►2 reasons!!!!2 reasons!!!!►You don’t have to write anything down, You don’t have to write anything down,
but have 2 reasons to share with the but have 2 reasons to share with the class.class.
►You have a couple of minutes. Go!You have a couple of minutes. Go!
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3 Functions of Money3 Functions of Money
►Medium of exchange: buy stuff ►Unit of measure: measure worth►Store of value: hold value
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TypesTypes
► Barter: tradeBarter: trade► Commodity moneyCommodity money
(gold, spices, etc.)(gold, spices, etc.)► Fiat moneyFiat money: :
gov’t says it’s gov’t says it’s valuablevaluable
we believe thatwe believe that
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ListenListen
► Funny MoneyFunny Money► Chocolate: Cacao seeds were used Chocolate: Cacao seeds were used
in 1500s by in 1500s by AztecAztecs. s. ► SaltSalt: The word "salary" comes : The word "salary" comes
from the word "salt."from the word "salt."► Cattle: Have been used as Cattle: Have been used as
currency since 9,000 BC. currency since 9,000 BC.
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Money in Colonial America - Listen- Listen
►Corn, gunpowder, tobacco, Corn, gunpowder, tobacco, wampumwampum
►States let individuals print their States let individuals print their own $ backed by gold.own $ backed by gold.
►During American Revolution, During American Revolution, 250 million “250 million “Continental Continental dollarsdollars” were issued.” were issued.
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Group AssignmentGroup Assignment
► Imagine you’re talking to Imagine you’re talking to someone who has never someone who has never seen or used money.seen or used money.
►Describe money to this Describe money to this person.person.
►Have someone in the group Have someone in the group write this down.write this down.
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CharacteristicsCharacteristics
►PortablePortable►Durable Durable ►DivisibleDivisible►Limited Supply Limited Supply
(to hold value)(to hold value)
Some islanders in Micronesia used these carved stones called “Vai” as currency .
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►Money WorksheetMoney Worksheet
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Money QuizMoney Quiz
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1. 1. On the island of Yap, large circular stones are used for
money. The main reason why this type of money serves its function
as a medium of exchange is because it is
►A) Medium of ExchangeA) Medium of Exchange►B) Unit of MeasureB) Unit of Measure►C) Store of ValueC) Store of Value►D) Limited AvailabilityD) Limited Availability
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2. You are saving your money so 2. You are saving your money so that you will be able to afford a that you will be able to afford a car this summer. What function car this summer. What function
of money are you using? of money are you using?
►A) Medium of ExchangeA) Medium of Exchange►B) Unit of MeasureB) Unit of Measure►C) Store of ValueC) Store of Value►D) Limited AvailabilityD) Limited Availability
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3. I estimate that Frank’s car is 3. I estimate that Frank’s car is worth $11,000. What function of worth $11,000. What function of
money am I using? money am I using?
►A) Medium of ExchangeA) Medium of Exchange►B) Unit of MeasureB) Unit of Measure►C) Store of ValueC) Store of Value►D) Limited AvailabilityD) Limited Availability
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4. You buy a Dr. Pepper at the 4. You buy a Dr. Pepper at the Chevron. What function of Chevron. What function of
money are you using? money are you using?
►A) Medium of ExchangeA) Medium of Exchange►B) Unit of MeasureB) Unit of Measure►C) Store of ValueC) Store of Value►D) Limited AvailabilityD) Limited Availability
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5. 5. The use of money in an economy solves which of the
following problems?
►A scarcity►B the condition of opportunity cost►C an efficient means of economic
exchange►D trade barriers
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So, Why Do We Use Money?So, Why Do We Use Money?
►3 Functions3 Functions►Problems With BarterProblems With Barter