How Money Works: teacher key
Money, grade 4 edition, written for 4th grade. Money has three jobs to do. Find out why barter was so hard, how the first coins and paper money came along, and how people earn, budget and save.
Read the book. Print this page for the key.
Questions and answers
- What are the three jobs money has to do?
- Barter, budget and bank
- Medium of exchange, store of value and unit of account (answer)
- Mint, blank and die
- What does a store of value mean?
- Money must be traded for shells
- Money is made of gold
- Money can be kept and still be worth about the same later (answer)
- What were the first Lydian coins made of?
- Electrum, a gold and silver mix (answer)
- Cotton and linen
- Cowrie shells
- What is income?
- A plan for spending
- Money you receive from jobs, allowances, chores or gifts (answer)
- A safe place for cash
- Why do people save for emergencies?
- Emergencies always cost the same
- Banks make people save
- An emergency is an unexpected expense that needs attention right away (answer)
- Why does the problem with barter make money helpful?
- Barter is slow and hard to arrange, and money helped trade (answer)
- Barter needs a mint
- Money is made of gold
Words
- barter: trading things
- electrum: gold-silver mix
- mint: coin factory
- income: money you receive
- budget: money plan