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Money Functions and Forms
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Money Functions and Forms
💰 Part 1: Understanding Money's Functions
1. What are the three main functions of money? Circle the correct answers:
Medium of exchange
Entertainment value
Unit of account
Store of value
Decoration purpose
2. Which function of money is being used when you compare the price of a $5 pie to a $3 sandwich?
Medium of exchange
Unit of account
Store of value
3. Explain in your own words what "medium of exchange" means:
💳 Part 2: Forms of Money
4. Match each form of money with its correct description:
1. Cash
2. Digital currency
3. Barter system
A. Trading goods or services directly
B. Physical notes and coins
C. Electronic payments and banking apps
5. List three New Zealand coin denominations:
$_______, $_______, $_______
6. Which forms of money do you use most often? Check all that apply:
Cash (notes and coins)
EFTPOS card
Banking app on phone
Online payments
Contactless payments
🛒 Part 3: Money in Everyday Life
7. List three ways you use money in your everyday life:
8. Why is money better than the barter system in most situations? Give two reasons:
9. Complete the sentence: Money is important because ________________________
_________________________________________________________________
_________________________________________________________________
💡 Part 4: Applying Your Knowledge
10. Sarah wants to buy a book that costs $25. She has a $50 note. How much change should she receive?
Answer: $_______
11. Circle the scenario that shows money being used as a "store of value":
Buying lunch with a $10 note
Saving $100 in a bank account for later
Comparing prices at two different shops
12. Draw or describe one advantage and one disadvantage of using digital money instead of cash:
13. If there was no money system, how might you get the lunch you want at school? Explain your answer:
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