Where Does the Money Go?
Explain what the economy is.
“The economy is all the ways people, earn, save, invest, and share their money.”
Define wages/salary, benefits, and working conditions.
Wages/Salary is how much each employee will receive, benefits are things BESIDES MONEY that the employees receive, and working conditions are related to the safety and comfort for the employees while they work.
Describe supply.
The number of each item of something is supply.
Name 3 career examples that start with the letter “p.”
Police officer, plumber, pilot.
What is bartering?
Bartering is another word for trading or exchanging goods.
What is a check?
“Checks are pieces of paper that have your bank account information, and you can use them in place of currency.”
What is the minimum wage?
$8.75-13.00/hr
Describe demand.
The number of people who want to buy a particular item is the demand.
Name 3 careers examples that start with the letter “s.”
Scientist, stock broker, sales rep.
Name 3 other countries and 3 goods that they produce that the US trades with.
China-rice
Mexico-wooden goods
Italy-pasta
Name some ways to save money.
Save it in a bank, budget it, get a credit card, invest your money, take out loans.
Name some of the benefits we discussed as part of working.
Health insurance, vacation, sick days, prescription drug plans.
Explain the difference between a good and a service.
Goods are objects you can touch and see. Goods can be traded and bought. Something that is done. Services can be bought but not traded.
Name 3 careers examples that start with the letter “a.”
architect, anthropologist, animator.
How old do you have to be to have a debit card?
18
What 5 things did we say most people spend their money on?
Utilities, Rent/Housing, Personal/Extras, Food, Transportation, Donations.
Name some of the working conditions we discussed as part of working.
Clean water, air filtration in buildings, safety/protection, noise control, better lighting, doctor/nurse on staff, 15 minute break, newer safe machinery.
Name 3 goods.
Cars, fruit, computers.
Name different types of work.
Unpaid, paid, volunteer, internships.
What is the difference between checking and savings?
Checks are useful for paying people at a distance. Savings are used to protect and keep money overtime.
What is a union?
A group of employees come together to form ask employers for what they want.
Name 4 services.
Fixing a car, picking fruit, cleaning a house, babysitting.
Do women get paid equal to men for the same amount of work?
Women are still not paid equally to men for the same amount of work.