BARTERING
HISTORY OF MONEY
HOW MONEY IS MADE
HOW MONEY WORKS
FACT OR FICTION
100
What is "bartering"?
a system of trading a good/service in exchange for another good/service
100
What is "money"
a medium of exchange that everyone agrees has value
100
What small image is hidden in the American dollar bill?
Spider
100
What is the official unit of currency in the United States?
United States Dollar
100
"If an item is perishable, it means it is more valuable when bartering”
FICTION! if an item is perishable, it is less valuable because it will go bad.
200
What is the difference between “borrowing” and “bartering”
“borrowing” is using something that belongs to someone else and planning to return it to them when you are done, while “bartering” is exchanging one good/service for another.
200
What did the New England Native American Tribe, The Wampanoag, use as a form of money?
wampum shells
200
What is American “paper money” made out of?
Cotton and Linen
200
What is the difference between a “good” and a “service”
A good is a physical object that can be bought or traded, while a service is a physical act.
200
"The safest place to keep your money is the bank”
FACT!
300
What is required for one item to be bartered for another?
They must be of equal value
300
What did the people of the Yap Islands in the South Pacific use as money? What determined its value?
Large limestone stones with a hole in the middle. The value was measured by their size and because they were hard to get.
300
Whose signature is on the American dollar bill?
US Treasurer at the time the bill was printed
300
What does "counterfeit" mean?
Fake money
300
"Today, the only form of currency is bills and coins”
FICTION! Today, we can use venmo, bitcoin, postal stamps, and more!
400
What did markets allow people to do?
To barter and trade at a larger scale
400
Why did the government decide to replace metal coins with paper money?
Because metal coins were too heavy, making them difficult to carry around/exchange
400
Whose portraits are typically on American Money?
Important people to American history
400
What does the United States government use to keep track of which bills are in circulation?
Serial number
400
“Sometimes, a group of countries decides to use the same currency”
FACT! Example: The euro
500
If they had no money and no goods, what could people barter with instead?
They could trade a service instead
500
The first coins in history were made of what metal? How was its value determined?
Silver and gold. Value was determined by weight
500
What are the two symbols shown on the dollar bill? +50 Bonus: What do they represent?
Eagle and Broken pyramid. +50 BONUS: Eagle represents strength, the olive branch it is holding represents peace, arrows represent willing to defend ourselves if attacked. Broken pyramid represents that we are still growing as a nation and eye of God watching over us.
500
Is all money worth the same value all over the world?
No, different currencies are worth different amounts. A Snickers bar might cost you a dollar in the United States, but in Indonesia it could cost you over 14,000 rupiah.
500
“There are only 11 Federal Reserve Banks in the United States.”
FICTION! There are 12 Federal Reserve Banks