Money and Banking

How is money a store of value?

• It can be saved and spent in the future

• It is a means by which items can be exchanged

• Goods and services can be measured by the dollar

• People can use it to measure the relative cost of goods

Which statement accurately describes how banks function?

• Banks allow people to store, earn, and borrow money

• Banks allow people to make their own coins

• Customers usually lose their money if a bank closes

• Customers are usually charged higher mortage rates

What did people practice or do with their goods before money existed?

• They kept them for themselves

• They asked for something more expensive

• The bartered their goods for others

Currency of England

• Dollar

• Euros

• Pounds sterling

• Pesos

All of the following are assets except:

• Buildings

• Credit card

• Factories

• Furniture

Draw 2 things used as money

All of the following were used as money before, except:

• Whale teeth

• Salt

• Copper

• Mirrors

How do you think interest rates affect how people borrow money?

Which was first?

• Paper money

• Coined money

Which do you think would be the advantages and disadvantages of the world's countries with one single currency? Explain