History of Money
Name something people would trade or barter before money was created?
work labor, food, medicine, goods
What is the value of a Quarter?
25 Cents
True or False?
Electricity in my home is considered a WANT?
False, its a need!
To "Spend" is the act of ______________?
A) depositing money into your account.
B) of using money to buy goods or services.
C) taking money from someone.
(B)
To "Spend" is the act of using money to buy goods or services.
____________ is a piece of paper that is given to an employee with each paycheck and that shows the amount of money that the employee earned and the amount that was removed for taxes, insurance costs, etc.
Pay Stub
What did people use to purchase products before paper money was created?
Coins
What is the value of a Nickel?
5 Cents
True or False?
Video game consoles are a NEED?
False, it is considered a WANT!
True or False?
To "lend" money is the act of giving something to someone with the understanding that they will give it back to you.
True!
The amount an employee earns once (taxes) and other items are deducted from his or her gross pay.
A) Gross Income
B) Payment
C) Net Income
C) Net Income
Net Income is the amount an employee earns once (taxes) and other items are deducted from his or her gross pay.
True or False?
One of the reasons paper money was created because it is lighter in weight and easier to carry?
True
What is the value of 5 Nickels?
.25 or
25 Cents
True or False?
Having a roof over my head is considered a NEED?
True
To "EARN" is to receive something on loan with the understanding that you will return it
False!
"Borrow" is to receive something on loan with the understanding that you will return it
True or False?
An "Interest Rate" is the amount a borrower pays to the lender for the use of the money.
True!!!
Which ancient civilization is believed to have created the first coins?
a. Romans
b. Greeks
c. Lydians
C. Lydians
True or False?
The total value of 4 Quarters is the same as 10 dimes?
True, both equal $1.00
What makes money important?
True or False?
To "SAVE" is setting something, like money, aside to use in the future.
True!!!
True or False?
A "Loan" is a fixed amount of money paid to an employee by an employer at regular intervals in exchange for their work.
False!
A "Salary" is a fixed amount of money paid to an employee by an employer at regular intervals in exchange for their work.
How many banks are under the Federal Reserve?
The 12 Federal Reserve Banks and their 24 Branches are the operating arms of the Federal Reserve System.
True or False?
Four $1.00 bills and a $5.00 bill equal $8.00 Total?
False, it would be $9.00
What is the difference between charging a credit card and paying with a debit card?
A credit cards is borrowing money from a financial institute (typically with interest). A debit card is from your personal bank account.
True or False?
Money looks the same in different places around the world.
False!!
It looks different around the world!
The ________ is total amount of money an individual has earned (before) taxes are taken out
A) Gross Income
B) Net Income
C) Lend
A) Gross Income
The "Gross Income" is total amount of money an individual has earned (before) taxes are taken out