MONEY
If you want to buy new clothes, chocolates and sweets for Christmas,
What do you need?
You need Money
What is Money?
Money is any object or good that is used for payment of goods and
services.
You do not get money freely. You have to earn money!
How do you earn money?
By working for an organization, you get salary (money).
What do you do with the money?
1. SPEND
2. SHARE
3. SAVE
It is important to do all the three: Spend, Share and Save
Can you think of three reasons why you want to spend money?
1.
2.
3.
Can you think of three reasons why you want to share money?
1.
2.
3.
Can you think of three reasons why you want to save money?
1.
2.
3.
Money is finite and it is important to make wise choices because
once you spend the money you have, you don’t have more to spend.
Answer the following:
1. You have Rs. 100/-. Last week, you saw a t-shirt which costs Rs.
200/-. Will you buy it or not? If yes, then how will you buy it?
Answer:
2. You have Rs. 1000/-. Things you want to buy are:
A. Book – Rs. 25/B. Pen and Pencils- Rs. 35/C. Bag- Rs. 120/How much can you save?
Answer:
Did you know there are different types of money?
1. Commodity Money
Many items have been used as commodity money such as gold and
silver
2. Representative Money
Representative money is money that consists of token coins, paper
money or other physical tokens such as certificates, which can be
exchanged for a fixed quantity of a commodity such as gold or silver.
3. Fiat Money
Fiat money is money that has value only because a government says
it has value
4. Coin
Metals were mined, weighed, and stamped into coins
5. Paper Money
Legal documents such banknotes (currency), checks, drafts, and
other bills of exchange that represent money in a more or less liquid
form.
ACITIVITY:
MATCH THE FOLLOWING
Sl.no
Types
Types
1.
Metals were
mined,
weighed, and
stamped into
2.
money that
has value only
because a
government
says it has
value
3.
Many items
have been
used - such as
gold and silver
4.
Legal
documents
such
banknotes
(currency),
checks, drafts,
that represent
money.
Sl.no