money and banking
Intro
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consumer sovereignty
Define : perfect competition and consumer sovereignty
Who is Adam Smith? What were his beliefs? Write down 5 things that he believed
Compare and contrast the benefits of communism vs capitalism.
Compare and contrast the benefits of communism vs capitalism.
functions of money
Using the website on the right - EXPLAIN the history of money.
You must include a description from every time that they talk about different kinds. |
All money has three characteristics: 1. It serves as a medium of exchange 2. It is a unit of account 3. It is a store of value. |
1. What does it mean to be a "unit of exchange"? Hint: What does it mean to exchange something?
2. What do you think it means for money to serve as a unit of account? Hint: What is a unit? 3. Why do you think it is important for money to serve as a "store of value"? Hint: What does it mean to "store" something? |
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banks vs credit unions
Guiding Question: What are the differences and similarities of banks and credit unions? Which one is right for me?
1. Define:
- bank
- credit union
- loan
- mortgage
- insurance
- interest
- principle
2. Complete a Venn diagram of banks and credit unions (hint: what are the differences, what are the similarities?)
Use these links:
Overview Pt 1
Use these links:
Overview Pt 1
3. Using the links provided here, complete the assignment for today.
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The federal reserve system
1. What is the The Fed?
2. What district are we in? How many are there? |
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Photo used under Creative Commons from Rex Roof