Vocabulary 1
How much something is worth?
Value
Borrowing money that you must return later?
Credit
I found a watch at the beach in Okinawa. I took it to a watch specialist who fixed it and told me it was a rare Seico watch from 1923. I was shocked when I found out it was worth ¥9,000,000
Sitting on a gold mine
I helped an old woman for 10 minutes to carry her groceries home and she gave me $5000. I tried to tell her I didn't need it but she insisted.
Easy money
A medium of exchange?
Money
A product people can buy or sell?
A commodity
Kara spent $2,000 on a Versace dress but it fell apart after one night of dancing at her friend's wedding.
All that glitters isn't gold
The new job pays ¥2000/ hour and ¥2,500/ hour after 8 hours of work.
Time is money
A tangible form of money?
Currency
To make money doing a job or service?
Earn
Bob inherited some money from his dead grandmother and bought a Ferrari. Two days later he had an accident and destroyed the car. Now the money is all gone.
A fool and his money are soon parted.
Pierre's French restaurant isn't very popular. Every day he has to pay his staff and the power bills but no customers come. He's losing money quickly.
In the red
Give an example of how money can be a medium of exchange.
Various answers.
Ex. Sara wants a new bicycle. She works for two months at a cafe and then uses the money she earned to pay for the bicycle.
The current global economic system?
Capitalism
Consuming goods and services?
Consumerism
Two rich people were at an auction for a famous Picasso painting. Both wanted the painting very badly, but in the end the man with the most money got it.
Money talks
Give an example of how money can be a store of value.
Various answers
Ex: Peter puts $100 into the bank every month for 10 years. After ten years, he has $12,000 plus $360 in interest.
The flow of money in a society?
Economy
When something is hard to get?
Give an example of how money can be a unit of account.
Various answers
Ex: You go to a store to buy a book. The book is $20. This is the standard measure of the books value, expressed in money. You can compare the book to other commodities.