Question of the Day:  What is the difference between a want and a need? Answer this in your notebook.

Visual Vocabulary Example- Visual Vocabulary

Choose the 10 words to complete a Visual Vocab with on page 20 of text.

Take a look at the 20 things that go into a product from Friday.  Next to each item, label the item as being either Land, Labor, or Capital. 

Think of a product you use. Make a list of 20 things that go into the production of that product

Factors of Production Concept Map
Read pp 4-5 to understand Land, Labor, and Capital

Make a concept map for each. See example below
https://docs.google.com/file/d/0B_gpVfHfuRG2WlJPQUhNVUtHYlU/edit

Goal Setting

Write down 15 things that you want to accomplish by the time you are 25 years old.

Write a paragraph on why goal setting is important for success.

1/7 Questions:

Chapter 10 Questions

1.       What is Money?

2.       The Three uses of money are:

3.       What are the Six Characteristics of Money and what does each mean?

4.       What are the Sources of Money’s Value? (3types)

5.       Explain the two views of banking.

6.       The national Banking Acts of 1863 and 1864 gave the federal government the power to:

7.       Explain what the Gold Standard is.

8.       What was The Federal Reserve Act and the Banking Act of 1933 and what did they do?

9.       What is M1 and M2 money?

10.    List the services that banks offer.

11.    How do banks make a profit?

12.    List the 5 types of financial institutions and briefly explain their role in the banking system.

13.    How does money serve as a store of value?

14.    Why did Continentals become worthless?

15.    Would movie tickets or popcorn make good money? Explain why or why not.

16.    What does it mean to barter?

17.    What is a medium of exchange?

18.    Look at figure 1032 on page 245. What does the fact that Roman coins have been found in places as far from Rome as Britain and Egypt suggest about how well the coins served as currency?

 


1/8 Lecture
Credit Card Notes: https://drive.google.com/file/d/0B_gpVfHfuRG2al9qQXZCSU9uZW8/edit?usp=sharing