Understanding Money and Payment Methods

In this session, students review previous topics and explore the importance of money in a city. They learn about taxes and their role in funding community services through an activity using city zoo gift cards. The session also covers how families manage finances for needs and wants, and students explore various payment methods with the help of student experts. The session concludes with a summary, review, and an optional check writing activity for extended learning.

What is the main focus of the session's introduction?

• Explaining the concept of taxes

• Introducing different payment methods

• Discussing the importance of money in a city

• Reviewing the previous session's content

Why do cities need to impose taxes?

• To increase the wealth of the city

• To pay for community services like libraries and police

• To discourage spending

• To support local businesses

What is the sales tax on a $1 item at the city zoo?

• 20 cents

• 15 cents

• 5 cents

• 10 cents

What is the total amount students can spend using the zoo gift card?

• $10

• $20

• $15

• $5

What is the main activity in the session about?

• The role of banks in a city

• The history of money

• How to save money effectively

• How families earn money and distinguish between needs and wants

Which of the following is NOT a payment method discussed in the session?

• Credit Card

• Cash

• Barter

• Electronic Payment

What role do the 'payment experts' play in the session?

• They lead the class in a discussion about needs and wants

• They help distribute gift cards

• They demonstrate different payment methods

• They teach the class about taxes

What is the purpose of the payment methods poster?

• To show the history of money

• To list the benefits of saving money

• To explain how taxes are calculated

• To illustrate different ways to pay for goods and services

What is the purpose of the check writing activity?

• To help students understand the process of writing checks

• To explain the history of checks

• To teach students how to save money

• To encourage students to use electronic payments

What is one of the prompting questions asked during the session wrap-up?

• How can taxes be avoided?

• What is the best way to earn money?

• Why is it good for a city to have businesses?

• Why is it important to save money?