360 Finance
Money can be used two ways to buy things we want and need. This is called?
What is Good and services
Money can be used two ways to buy things we want and need. This is called?
What is a Deposit
If I am insured by the bank and I have $300,000, and the bank fails, how much money will I receive?
$250,000
To require something because it is essential is called?
What is Needs
____is a form of currency in Mexico
What is Pesos
___is a thing that is borrowed, especially a sum of money that is expected to be paid back with interest
What is Loans
True or False: The FDIC is federal bank that insures and protects everyone's money, no matter the location?
What is False
If I have $4 and candy cost $1, but they decrease to 50 cents, how many can I buy?
What is 8 pieces of candy
When money is saved in the bank for a long period of time, that money can earn more money from the bank.
What is Interest
The main system that people used 1000 years ago to get things they needed or wanted was called?
What is Trading
When we understand the difference between what we want and need, this helps us better understand how to use our money to purchase____
What is Goods and Services
____helps us use our money wisely, so that we have enough to pay for what we need first, and then for what we want later.
What is Saving and Planning
My brother and I bank at Commerce Bank. We want to buy a house but need to know how much we can afford. I have $200,000 in the bank, and my brother has $300,000. Unfortunate, our bank failed. How much money do we have together to buy a house.
What is $450,000
The FDIC is a type of ______ that makes sure we get the most money we can, if the bank fails.
What is Insurance
Along with checks, ____ is a written payment on a piece of paper to someone, to pay for something
What is Money Order
What are 3 tangible ways people can receive or use as a form of money?
What is checks, credit card, money orders
____ is a protected organization that allows you and businesses to secure your money in a safe place.
What is a bank
Hi my name is Iza. I am from Europe, home of the best Pizza. I want to open my own pizzeria, but it cost $100,000, and on top of that the bank I was going to closed down all of the sudden. How much do you think I'll get so that I can open up my Pizzeria?
What is TRICK QUESTION! Hahahahahaha
What does FDIC stand for?
What is Federal Deposit Insurance Corporation
When I need to know the estimate of how much my vacation will cost, this can be called
What is The Value
What is the difference between the value and quantity of money?
What is Just because you have more coins or bills than I do, does not mean you have more money
When you want to gain money from _______, you have to be able to understand the difference between what it is required in your life from what is desired, so that you can save efficiently.
I went on Vacation out the country, to a beach. I won $100 and put the money into a local bank, that insures up to $50. I also found $100 cash and put it in my pocket. I wanted to buy some shoes that cost $100. When I came back to the store to buy the shoes, the price went up to $200. News spread that all banks failed. I went to the bank to get some money. Do I have enough money for the shoes,and why?
What is No, I don't because I am only insured $50 of my $100. My grand total would only be $150, which is $50 dollars short.
What are the two topics that we have covered this far in the semester?
What is Money Basics and Money Planning
How can you define ‘the value of money”?
The demand and supply of money determines its value.