History of Money
Trade (barter)
What did people use before money?
Physical money like coins and bills
What is cash?
Money from your bank account
What does a debit card use to pay?
Only the named person can deposit them.
Why are cheques safer than cash?
A way to pay for goods or services
What is a “method of payment”?
It is physical/tangible
Why is cash reliable?
A PIN [MathMay282...26jeapordy | PDF]
What is needed to use some debit cards?
either, but cash is quick and simple
Which is better for small purchases: cash or card? Why?
Debit card, credit card, e-transfer, cash, etc
Name two modern payment methods.
Easy to use, no technology needed
A reason people still use cash.
A card that lets you borrow money to buy things
What is a credit card?
No need to carry cash
What is one advantage of debit cards?
They may need internet or can have errors
Why are electronic payments sometimes unreliable?
It can carry germs
Why should you wash your hands after handling cash?
The money plus interest
What must you pay back when using a credit card?
Interest charges
What is one disadvantage of credit cards?
from trade → cash → digital payments
Payment from the past to the present.
Cash is official currency used for buying things
Why is cash used to buy things?
Extra money paid for borrowing money
What is interest?
Paying high interest and debt growing
What is a risk of not paying a credit card?