1. EPF 6 - Knowledge of the Nation’s Financial System (Money & Banks)

2. EPF 6 - Knowledge of the Nation’s Financial System (Money & Banks)
But first, some “Jargon” (Technical Language)
Durability Portability Divisibility
Uniformity Acceptability Medium
Exchange Store of Value Measure
Commodity Fiat Return
Intermediaries Facilitate Transactions
and . . .
Financial Institutions Financial Market Place
Financial Transactions

3. EPF 6 - Knowledge of the Nation’s Financial System (Money & Banks)
But first, some “Jargon” (Technical Language)
Durability Portability Divisibility
Uniformity Acceptability Medium
Exchange Store of Value Measure
Commodity Fiat Return
Intermediaries Facilitate Transactions
and . . .
Financial Institutions Financial Market Place
Financial Transactions
See EPF 6 Vocab. Quizlet

4. EPF 6 - Knowledge of the Nation’s Financial System (Money & Banks)
Complete the EPF 6 Pretest in Google Classroom

5. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to define money and its characteristics

6. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to define money and its characteristics
MONEY: Anything widely accepted as final payment for goods and services or . . .

7. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to define money and its characteristics
MONEY: Anything widely accepted as final payment for goods and services or A tool used to measure value

8. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to define money and its characteristics
MONEY: Anything widely accepted as final payment for goods and services or A tool used to measure value
Characteristics: Durable Divisible Limited in Supply
Portable Uniform Accepted

9. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to define money and its characteristics
MONEY: Anything widely accepted as final payment for goods and services or A tool used to measure value
Durable - Bills & coins can be easily replaced should they become damaged or worn out

10. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to define money and its characteristics
MONEY: Anything widely accepted as final payment for goods and services or A tool used to measure value
Divisible – Divisibility indicates that money can be broken down into smaller values

11. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to define money and its characteristics
MONEY: Anything widely accepted as final payment for goods and services or A tool used to measure value
Limited in Supply – Ensures that money holds its value

12. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to define money and its characteristics
MONEY: Anything widely accepted as final payment for goods and services or A tool used to measure value
Portable – Portability says that money can easily be transported from one location to another

13. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to define money and its characteristics
MONEY: Anything widely accepted as final payment for goods and services or A tool used to measure value
Uniform – Uniformity provides for a standard look to the various denominations of bills and currency

14. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to define money and its characteristics
MONEY: Anything widely accepted as final payment for goods and services or A tool used to measure value
Accepted – Acceptability requires that the money be commonly agreed upon as a value exchange method

15. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to define money and its characteristics
MONEY: Anything widely accepted as final payment for goods and services or A tool used to measure value
Lastly, money is all of a country’s coins, currency AND checking account deposits

16. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to describe the role of money in an economy

17. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to describe the role of money in an economy
The Role of Money is to . . .
A.) Act as a medium (method) of exchange
* For example, Instead of an artist giving a grocer a sculpture in exchange for milk, he can give money

18. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to describe the role of money in an economy
The Role of Money is to . . .
B.) Encourage specialization
* For example, instead of trying to do everything someone needs to do to just live, I can focus on just one job and use the money I receive from that job to buy what I need

19. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to describe the role of money in an economy
The Role of Money is to . . .
C.) Act as a “store” (holder) of value
* For example, we can put money in something (a bank or an investment) and it’ll be worth something down the road. A house I buy now and want to sell in 20 years.

20. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to describe the role of money in an economy
The Role of Money is to . . .
D.) Act as a measure of value
* For example, when discussing a trade (barter) with someone, we can refer to the number of dollars something is worth in comparison (ex: Pokémon Cards).

21. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to describe the role of money in an economy
The Role of Money is to . . .
E.) Be a commodity all by itself
* For example, if you were stuck on an island, you and the other survivors might use coconuts as money for trade (instead of eating them).

22. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to describe the role of money in an economy
The Role of Money is to . . .
F.) Be a “Fiat” (Government decree)
* For example, By “Fiat,” Big Daddy on the Island Kingdom of Mocha decreed clams to be the island’s currency.

23. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to describe the role of banks in our economy

24. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to describe the role of banks in our economy
Financial market places (banks) bring people together who have money to lend and are willing to take risks to earn a return with people who want to borrow for a specific purpose

25. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to describe the role of banks in our economy
The Role of Banks, a Short Video

26. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to describe the role of banks in our economy
For example, consider the Bank of North Dakota’s Mission

27. EPF 6 - Knowledge of the nation’s financial system
Objective – Be able to describe the role of banks in our economy
Lastly, consider PBS’s Ascent of Money Video

28. EPF 6 - Knowledge of the nation’s financial system
COMPLETE THE EPF 6 QUIZLET