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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. Draw or describe a situation where you might use digital money instead of cash:
12. True or False: In a barter system, you need to find someone who has what you want AND wants what you have.
True
False
13. Explain why money serves as a "store of value":
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