Money

Front

What is the definition of money?

Back

Money is a medium of exchange that is widely accepted in transactions for goods and services.

Front

What are the main functions of money?

Back

The main functions of money are: 1) Medium of exchange, 2) Unit of account, 3) Store of value, 4) Standard of deferred payment.

Front

What is a unit of account?

Back

A unit of account is a standard numerical monetary unit of measure that provides a consistent measure of value.

Front

What does 'store of value' mean in the context of money?

Back

Store of value refers to the ability of money to maintain its value over time, allowing individuals to save and defer consumption.

Front

What is the difference between currency and money?

Back

Currency is the physical form of money, such as coins and banknotes, while money encompasses all forms of value used in transactions, including digital and electronic forms.

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

Front

What is the significance of the number 16 in financial calculations?

Back

The number 16 can represent various financial concepts, such as percentages, ratios, or specific values in calculations.

Tags

CCSS.6.RP.A.3C

Front

How do you calculate a percentage of a total amount?

Back

To calculate a percentage, divide the part by the whole and multiply by 100. For example, to find 16% of 100, calculate (16/100) * 100 = 16.

Tags

CCSS.6.RP.A.3C

Front

What is the importance of understanding financial ratios?

Back

Financial ratios help assess the performance and financial health of an entity, allowing for better decision-making.

Tags

CCSS.7.RP.A.2C

Front

What is a common financial ratio used in analysis?

Back

A common financial ratio is the current ratio, which measures a company's ability to pay short-term obligations. It is calculated as current assets divided by current liabilities.

Tags

CCSS.7.RP.A.3

Front

What does the term 'liquidity' refer to in finance?

Back

Liquidity refers to how easily an asset can be converted into cash without affecting its market price.