Vocabulary
Barter
To trade without using money
What are two things we can barter?
Open responses as long as money is not mentioned
What is a bank?
A place that deals with money.
What is the value of a dollar?
A dollar
Exchange
To give something and get something in return
What is money?
Something we use to buy goods and services
What are the two main accounts a bank has to offer?
Checking and savings
What kind of card is connected to our bank account?
Debit or credit
Debit
Goods
A product we may want or need
Give me two examples of a good
Open answers
Credit cards are..
loans with higher interest rates
How can we make money?
Open
Service
Something we do for others
Give me an example of a service
Open answer
What happens when you pull out a loan?
Why is it important to understand the value of things?
To be able to compare what we can and cannot afford
Value
The worth of something
Why is money better than bartering?
Money lasts longer
What can we use a loan for?
Houses, pay for school, buy a car, pay of debt..etc
What will happen if you do not pay your credit card?
Your fees will go up and you may lose the credit card.