1. What is Money? Please carry out the following tasks before facing the big screen:
Collect your folder, homework sheet and purple pen.
Go through your homework sheet and make any corrections to your work. Add any information to questions I have set in purple pen.
Get your school planner out and place it on your desk.
In your green book underline the title: What is Money? and underline today's date
Face the big screen 1

2. Homework feedback
Purple Pen B A C
True
False
Topic 2 answers

3. Topic 3 https://www.youtube.com/watch?v=PIAXG_QcQNU
Unit 1
Topic 3

4. Today’s Title Objectives Topic 3 What is Money?
Students will be able to:
Define money
Explain why we have money
Outline the sources and features of money

5. Key words
Barter – the exchange of goods and services for payment of other goods without using money. Counterfeiting – Producing a fake of a ‘real’ product. Mint – where coins are made. Denomination – the value of money. Hyperinflation – Accelerated rate of inflation
When finished write down why you think we have money?

6. Recap – a history of money
Bartering
650BC – The earliest coins
Pounds shillings and pence – AD785

7. Looks what’s new!

8. The purpose of money A form of payment.
A unit of worth, it allows us to keep track of how much things are worth.
It is a store of value; it can be kept and used later.

9. The Features Easily recognised Easy to carry Not easily available
Available in different amounts
Consistent in what they are worth
Long lasting

10. Counterfeiting Task 1 A/A* B/C
Write a paragraph explaining the following:
What is counterfeiting?
What features are on some of our currency
How does counterfeiting affect the economy?
Look at some of the notes and coins available. Write down how have coins/notes changed over time and what features have been added to stop people counterfeiting them?

11. Some Features Raised Print Watermarks Holograms Fluorescent ink
A combination of traditional and computer based printing methods
Ridged edges on coins
Two tone metals

12. Question
What would happen if government printed more money?

13. Answer
Hyperinflation

14. The Future – cashless???
Direct Debits Apple Pay Contactless Standing order Debit card Internet banking Thumb
With the person next to you firstly discuss and then write answers to the following in your book.
Will we need money in the future? If so what for?
Could we give up cash completely? Who would it affect?

15. Did you know
The early Greeks and Romans set up stalls around the market place to conduct the earliest form of banking now with the introduction of the current account most people have bank accounts.