Grade 9-12
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Activity
Characteristics of Money
Objective
Students will be able to:
- Explain the characteristics of money.
Standard
National Standards in Economics
Markets and Prices
Standard: 7
- Students will understand that: Markets exist when buyers and sellers interact. This interaction determines market prices and thereby allocates scarce goods and services.
- Students will be able to use this knowledge to: Identify markets in which they have participated as a buyer and seller and describe how the interaction of all buyers and sellers influences prices. Also, predict how prices change when there is either a shortage or surplus of the product available.
National Standards in Financial Literacy
Managing Credit
Standard: 5
- Students will understand that: Credit allows people to purchase and enjoy goods and services today, while agreeing to pay for them in the future, usually with interest. There are many choices for borrowing money, and lenders charge higher interest and fees for riskier loans or riskier borrowers. Lenders evaluate creditworthiness of a borrower based on the type of credit, past credit history, and expected ability to repay the loan in the future. Credit reports compile information on a person’s credit history, and lenders use credit scores to assess a potential borrower’s creditworthiness. A low credit score can result in a lender denying credit to someone they perceive as having a low level of creditworthiness. Common types of credit include credit cards, auto loans, home mortgage loans, and student loans. The cost of post-secondary education can be financed through a combination of grants, scholarships, work-study, savings, and federal or private student loans.
Concepts
In this personal finance activity, students will match terms related to money with their definitions.
Resources
Procedure
This is an individual activity where students will review terms related to the characteristics of money and match them with their definitions. Choose one of the following formats for students to complete the activity: Characteristics of Money Match Game Worksheet, Quizizz, or the Ready Assessments Activity. You can facilitate student work by checking the answer key in real time.To complete this activity, students need to follow the directions below:
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- Go to The Characteristics of Money Match Game Worksheet, Quizizz, or the Ready Assessments Activity.
- Match the terms with their definitions.