Functions Of Money
What are Goods and Services?
Goods- Items you can purchase with money.
Services- Things you do for others or others do for you.
Why does money have to be durable?
Money can't break easily.
Durable- Hard to damage or break.
What's the difference between needs and wants?
Need is something you can't live without
Wants are things you can live without but you'd like to have them.
What are 2 examples of Precious Metals?
Gold
Silver
Copper
Platinum
Brass
Name 3 banks that have credit cards.
Wells Fargo
TD Bank
WSFS
Citizens
Chase
What are 3 examples of Goods & Services?
Goods- Food, Water, Games, Clothes, House, Car, etc.
Services- Haircut, Nails painted, cutting grass, Cashier, etc.
Why does money have to be portable?
It has to be easily exchanged from person to person.
What are 4 examples of basic needs?
Clothes
Water
Electricity
House
Food
Shoes
Heat
What was a Goldsmith's job in the 1800s?
Melted the gold down into coins and small bars
What is an overdraft fee?
A fee charged for using more money than you have in your account.
100 Extra Points-
How much is the average overdraft fee?
True or False
Money doesn't have value. People give money its value.
True
What are the denominations of US currency?
$1
$5
$10
$20
$50
$100
Before people had money, how did they get what they needed or wanted?
Trading or Bartering
Who's job was it to dig up the gold?
Gold Miners
Which company created the second type of digital money?
Paypal
What is inflation?
When the prices of goods and services increase.
Explain why you can not buy items in the USA with currency from another country.
Money from other countries isn't recognized here in the US.
Basic Need Check In
Daily Double
1 person from each team
has 1 minute to find all matches
Piling on the Gold
Daily Double
3 volunteers
1 min make as many piles of $100 as you can
What is a Data Compromise or Data Breach?
When your personal information is stolen or taken from a online system, business or website.
What does Supply and Demand mean?
the amount of goods and services that are available for people to buy compared to the amount of goods and services that people want to buy.
Supply- The amount of products made
Demand- How many people want the product
What does the Federal Reserves do?
They print the US Dollar and keep records of all money they've printed that's circulating around the world.
What kind of currency did European settlers use to buy Manhattan and Staten Island in the 1600s?
Wampum, Seashells, Shells
How did the Golden State Warriors get their name?
100 extra points- Where is the one place you can still find gold laying or floating?
What was the first product created that started moving us towards digital currency?
Credit Cards
100 Extra Points-
What kind of store was the first credit card used in?