What is money and sources of income

What did people do before money?

• Barter

• Knit their own

• Rob a bank

• Use pebbles

What is the disadvantage of bartering?

• both people are always happy with the exchange

• both people live in the same village

• both people need to have exactly what the other wanted

• if there are more than two people it doesn't work

What do we use as money?

• Beads and feathers

• Coins and banknotes

• Pebbles and sheep

• Top trump cards

What is NOT a feature of money?

• recognised by everyone

• accepted as payment

• easy to carry

• It is not accepted as legal tender

• available in different amounts or ‘denominations’

How do we know money is genuine?

• It is silver

• It is gold

• It is recognisable

• It is made from nickel

Coins are made from

• silver

• a combination of metals

• gold

• copper

Banknotes are made from special paper or a type of plastic called polymer

• False

• True

The money we store in places like banks is held electronically

• True

• False

We can check how much money is in our bank account internet banking or an automatic teller machine (ATM)

• True

• False

To deposit money into your bank account is called a

• debit

• credit