Wednesday, April 23rd, 2014
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Economy and Money

We take for granted that if we need something, we can go shopping. We have a choice of stores and can buy what we need with the money that members of our family have earned in exchange for goods and services. It sounds simple, but it is complicated.

An economy refers to the way people use resources to make and sell goods and services. Before economies developed, money didn’t exist and people had to produce everything for themselves. When this became too time consuming, bartering began. Bartering is trading goods or services that you have, for ones you don’t have. The introduction of money allowed economies to grow.

Find out about some of the unusual types of money used in the past. http://library.thinkquest.org/J001599F/

Today each country has its own money. Write the name of the country that uses each of the coins listed below.

Use the following website to help you. http://teacher.scholastic.com/scholasticnews/indepth/money/latest_news/index.asp?article=all_currency

1. Franc

2. Drachma

3. Rupee

4. Guilder

5. Krone

6. Rial

7. Yuan

Answer the following questions and record your decisions:

1. What items will be considered valuable

2. Who has access to these things?

3. How does trade within this culture happen?

4. How do people display their wealth?

5. Who will be considered successful? Why?

Your task is to design the currency for your culture.

 


 

 

Economy and Money for Create a Culture is currently under construction. Please come back later.