Topic 1a What is money?

What is the best definition of money?

• Anything generally accepted as payment for goods and services.

• Just the cash in your wallet as payment for goods and services.

• Precious stones or feathers that you can exchange for goods and services

• Your debit card that you use contactless for the exchange of goods and services.

Which of the following are features of money?

• Recognised by everyone.

• Accepted as payment and always worth the same amount.

• Easy to carry around.

• Available in different amounts.

• Hardwearing

Whose head features on the back of our coins?

• The monarch

• Boris Johnson

• Alan Turing

• Florence Nightingale

What did people do before money?

• Bartering

• Bar-tending

• Berating

• Bothering

Where can you store your money electronically?

• Banks

• Building societies

• Under your mattress

• In your wallet

How many denominations of coins do we have?

• 8

• 7

• 9

• 10

How many denominations of bank notes do we have?

• 4

• 5

• 6

• 7

Why do we not carry all our money around with us?

What does ATM stand for?

• Automatic Teller Machine

• Automatic Telling Machine

• Automatic Transfer Machine

• Automatic Trust Machine

Why was bartering difficult? What problems did it cause? What happened in the bartering game you did in class?