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25
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Why were precious metals used as money?
They maintained their value over time, can be easily translated into prices and were widely accepted.
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trap
No points!
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magnet
Take 25 points!
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fairy
Take points!
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25
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banana
Go to last place!
Oops!
15
×
Why are strawberries unsuitable for use as money?
They last for such a short time.
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thief
Give points!
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25
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rocket
Go to first place!
Okay!
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shark
Other team loses 25 points!
Okay!
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thief
Give points!
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25
20
×
What does the story of the mechanic and the farmer demonstrate?
You have to find the right person to barter with.
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20
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What does 'standardising' mean?
Keeping something the same.
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15
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What does 'medium' in 'You exchange these for a common medium of exchange - that is, money.'
Means, way, method.
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15
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What happens in a 'barter' economy?
We exchange items for services.
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15
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What does 'worthless' mean?
Without any value.
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heart
Other team wins 25 points!
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gold
Win 50 points!
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fairy
Take points!
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25
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thief
Give points!
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25
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What is the first advantage of a system that uses money, not bartering?
You don't have to find the 'right person'.
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25
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Why can't government print money when they like?
Money loses its value.
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15
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Why did some people use cocoa beans or salt as money in the past?
The uses gave them a basic value.
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20
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What was the first 'paper money' like?
A type of receipt or a note.
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20
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What is 'fiat money'?
The cash we carry around with us.
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seesaw
Swap points!
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fairy
Take points!
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25
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shark
Other team loses 15 points!
Okay!
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banana
Go to last place!
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