Name of Student: __ Grade Group:___

FORMATIVE 1 NAME:_________________________

GRADE GROUP: _________________

RUBRIC

Name of Student: ______________________________ Grade Group:___________________

Unit Theme:

Learning objectives

Skills

Criteria of Success

Achieved

Work

Towards

12.1A Money and financial institutions

Understand the function of money in a market economy

Knowledge and understanding

Know what money is

Identify the four main functions of money

Enumerate money properties, which are necessary for execution of main functions.

Task 1 Knowledge and understanding- Know what money is___

Give the meaning of what Money is?___________________________________________________________

_________________________________________________________________________________________

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TASK: 2.1 Knowledge and understanding- Name four main functions of money

4..

1..

2.

3.3.3

TASK: 2.2 Knowledge and understanding- Name four main functions of money

FUNCTION OF MONEY	MEANING
1. A store of value	A. to act as a way for people to measure values of goods and services
2. A medium of exchange	B. want to be able to keep money and spend it in the future as well as in the present
3. A standard of deferred payment	C. something that is generally acceptable as a means of payment for goods and services
4. A unit of account	A. D. We want to be able to keep money and spend it in the future as well as in the present

1.___________ 2.______________ 3._____________ 4._________________

TASK: 3 Knowledge and understanding- Money properties

Fill in the missing words

· _______________- if money is to be an effective medium of exchange, it has to be universally acceptable (or at least acceptable within the country of origin).

· ______________ - money has to be able to be conveniently split into multiple units for convenient payment. (Cows might be a useful source of money but they would certainly lose their value if cut up to pay for small items!)

· _____________- money has to be convenient to carry around. (Ever tried slipping a cow into your back pocket?)

· ______________- a lot of effort goes into ensuring that people cannot easily copy money.

· ______________ - money has to last well if it is to act as a store of value and standard of deferred payment. _____________ - money has to be of a uniform quality to ensure that it remains universally acceptable.

· _____________- if it is to maintain its value, the supply of money has to stay limited. Using leaves as money, for example, would create a money supply problem in the autumn!

A. Uniformity, B. Difficult to counterfeit, C. Durability, D. Portability / convenience,

E. Limited in supply, F. Divisibility, G. Acceptability

Дата добавления: 2015-11-04