Define This
Methods of Payment
Goods vs. Services
Spend, Save, Earn, Donate, Invest
Calculate This!
100

What is an electronic wallet?

payment that involves tapping a smartphone or watch that has apps or payment cards attached to a bank account.

100

Money in coins and bills is a method of payment called ____

cash

100

What does goods mean?

Products that can be purchased

100

What is an example of spending money?

Spending is to pay money to get goods or services 

ex: buying lunch

100

A pack of pencils cost about $1.25 and a pair of notebooks cost $3.56.

Find the estimated total

Both items cost about $5.00

200

What is an e-transfer?

a banking service that allows clients to send and receive funds between their personal account and someone else’s, using email and their online banking service.

e-Transfers are quick and convenient!

200

A document that orders a financial institution to pay a specific amount from the issuer’s account to the person or organization named is a method of payment called ____

cheque

200

What does services mean?

Tasks or actions performed by people for payment 

200

What is an example of saving money?

Saving is to put aside money for future use; objectives can be short term (e.g. buying a tablet), or long term (e.g. saving up for university)

200

A class set of glue sticks cost $12 and a class set of markers cost $17.18

Find the estimated total

Both items cost about $29.00

300

What is price matching?

Comparing prices from two different stores to find the better deal

300

a plastic card used to pay for goods and services. When the card is used, the amount is deducted directly from the cardholder’s chequing account is a method of payment called _____

debit card

300

What are some examples of goods?

ex: food and clothing

300

What is an example of investing?

Investing is to buy something that is expected to make a profit or income (ex: stocks)

300

Ms. Thipakaran bought 2 apple pies for $1.99, how much did she pay for 4?

Ms. Thipakaran paid $7.96

400

What is a need?

A necessity, something that is required to live.

400

a plastic card, issued by a financial institution, that allows the cardholder to get funds to pay for goods and services. Cardholders MUST pay the money back + interest and any other charges, according to conditions is a method of payment called ______

credit card

400

What are some examples of services?

ex: car repair

400

What is an example of donating?

Donating is giving a gift for charity, humanitarian aid, or to help a cause (ex: Salvation Army, Food Banks)

400

Mr. Boscariol bought a glockenspiel for $37 but paid with two $20 bills.

What was his change?

He received $3 in change

500

What does it mean to earn?

Obtain money in return for labour or services.

500

a type of currency that exists only in digital or virtual form. It is secured by a mathematical encryption process that makes it nearly impossible to counterfeit or use fraudulently is a method of payment called ______

cryptocurrency 

500

Is a mechanic's job a good or service?

Service

500

What is an example of earning?

Earning is getting money in return for labour or services (ex: being employed with a job, paid for chores)

500

Mme. Lyons bought a Mount Royal hoodie for $85 but paid with five $20 bills.

What was her change?

She received $15 back in change