1. Writing Assignment 3 paragraphs 60%
Now that I have 4 months of high school left my plans are… Please explain what your plans are after graduation on May 19th and what are your options when you graduate. Please include places, time frame and the way you will earn money to take care of yourself. Due at the end of class. (1 paragraph equals 5 sentences)

2. Answer the questions to the following video.
Warm Up #30
Answer the questions to the following video.

3. Class Confession
We the Senior Class of 2017 will complete ALL of our assignments to the best of our abilities and behave appropriately in class.
We will respect all faculty, staff, substitutes, classmates, and especially Mr. Wilcox.
We will graduate on time May 19, 2017 and become productive citizens in society.

4. Scaffold understanding of the standard(s) and/or element(s)
Scaffold understanding of the standard(s) and/or element(s). Paraphrase the standard(s) and/or element(s). Rewrite the standard including synonyms or brief definitions in parentheses and in a different color following the key terms found in step 1.
SSEMA2a
Explain (clarify) the roles/functions (part) of money (funds) as a medium (middle) of exchange, store of value (worth), and unit of account/standard (usual) of value.

5. Money: Its Functions and Properties
SSEMA2a
Explain the roles/functions of money as a medium of exchange, store of value, and unit of account/standard of value.

6. Chapter 10 Money KEY CONCEPT
Money provides a low-cost method of trading one good or service for another. It makes the system of voluntary exchange efficient.
WHY THE CONCEPT MATTERS
Money is important to everyone in our society. Imagine what it would have been like to make those purchases without paper bills and coins.

7. Last 3 economic transactions you completed using money?
_____________________________________

8. What is Money?
Money is anything that people commonly accepted in exchange for goods and services.

9. What functions does money serve?
Medium of exchange
A standard of value
Store of value

10. Any item that sellers accept as payment for goods and services.
Medium of Exchange
Any item that sellers accept as payment for goods and services.
Barter—exchanging goods or services for other goods or services
inefficient: both people must want what the other one has to exchange

11. Standard of Value
Provides people with a way to measure the relative value of goods and services by comparing their prices.

12. Store of Value
It can be saved, or stored for later use.

13. 5 Characteristics of Money
Acceptability
Divisibility
Durability
Portability
Stability in Value

14. Acceptability
People are willing to accept money in exchange for their goods and services.

15. Divisibility
Ability of money to be divided into smaller units.

16. Durability
Ability to be used over and over again, and can withstand wear and tear.

17. Portability
Ability to be carried from one place to another and transferred from one person to another.

18. Stability in value
Must be stable in value

19. 3 Types of Money A. Commodity Money
An item that has a value of its own
Ie. Gold and silver (specie), diamonds, etc.
B. Representative Money
An item that has value because it can be exchanged for something else of value
Ie. Bills that were redeemable for gold or silver.
C. Fiat Money
A government decree says that it has value.
Ie. Coins and paper money in the U.S.

20. What forms of money does the U.S. take?
Coins and Paper Money
Demand Deposits
1. Checking accounts (“on demand” at any time)
Near Money
Savings accounts
Time deposits
a. CD’s & Bonds

21. Review
The Role of Money Money can be anything that people accept as payment for goods and services. It has three functions. 1. It is a medium of exchange. Buying and selling with money, as opposed to bartering for goods, is convenient and allows for flexible and precise pricing. 2. It is a standard of value. Money allows people to measure the relative worth of goods and services and to compare prices. In the United States the value of goods and services is expressed in terms of the dollar, the country’s basic monetary unit. 3. It is a store of value. Money holds its value over time so people don’t have to spend it all at once but can save some for the future. Inflation erodes the purchasing power of money.

23. Draw the type of currency that you will use.
Closure Activity #24
Suppose that you and your classmates decide to establish an original monetary system for your school’s money. What will you use as currency?
Draw the type of currency that you will use.
Explain why you chose that item, why it functions as money, and how it matches the characteristics of money.
10 mins.

24. Show What You Know! Georgia Milestone Practice Question
When people put money in a savings account, money is
serving as a
Store of value
Medium of exchange
Standard of value
All of the above

25. Show What You Know! Georgia Milestone Practice Question
If the smallest unit of U.S. money was the $100 bill, which
characteristic of money would it NOT meet?
Durability
Portability
Divisibility
Acceptability

26. Show What You Know! Georgia Milestone Practice Question
What is the system of exchange that does NOT involve
money?
Haggling
Barter
Free exchange system
Debit exchange system

27. The End
Any Questions?
Any Concerns?
Any Comments?

28. Chapter 10 Money Test!
Money Medium of exchange Barter Standard of value Store of value Durability Portability Acceptability
Commodity Money Representative Money Fiat Money Currency Demand deposits Near money Divisibility Stability in value