ECONOMICS: November 9 Warm-up To buy a product, is bartering or using U.S. currency easier? Why? Learning Target #1 In order to understand how money has.

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ECONOMICS: November 9 Warm-up To buy a product, is bartering or using U.S. currency easier? Why? Learning Target #1 In order to understand how money has evolved over time to meet the needs of people everywhere, I will analyze the different types, characteristics, and functions of money. I will know I have it when I can: (1) differentiate between the use of bartering, commodity money, and fiat money; (2) explain the three functions of money; and (3) explain the four characteristics of money. Introduction to Money (through 4:48) Money and Banking; Gold Standard(HO) --basic history and vocabulary; functions of money; characteristics of modern money Fiat Money Explained (2:10) Learning Target #2 In order to understand the features of modern banking, I will analyze the shift of the valuing of U.S. currency based on a gold standard to the use of fiat money controlled by the Federal Reserve. I will know I have it when I can explain the advantages and disadvantages of a gold standard. --gold standard: advantages and disadvantages; limiting and eliminating it Assignment Read Ch. 16, Lesson 1 Ch. 10 & 14-16 Test is next Friday (as usual, warm-ups due on test day)