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This topic talks about money, the content is short as it is for a half year course
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Done by Mrs T.P. Austin 1
Business BasicsBusiness BasicsBusiness BasicsBusiness Basics
Money ManagementMoney Management
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Definition of terms• Barter• Money• Consumer• Bank (commercial)• Income• Expenditure
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Terms Defined• Barter – This is
the exchange of goods and services for goods and services without the use of money.
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Money• Is any commodity
that is accepted by most persons as a medium of exchange and as a measure of value.
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Budget• This is an
estimate of your expenses and income for a specific period.
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Simple Budget
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Consumer• Is any person
who uses up goods and services produced by another person.
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Income• Money
received for work or from an investment
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Expenditure• The action of spending money
or the amount of money spent
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Basic types of Accounts at the bank
• Savings account – Money kept in a bank for safekeeping. Interest is normally paid on this account.
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Basic types of accounts Cont’d
• Current account – used to pay for day-to-day goods and services using either a card or a cheque book.
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Basic types of accounts cont’d
• Fixed Deposit account – money saved for a specific period of time without authority to withdraw, interest is given and no less than $25,000 can be used to start this account.
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Examples of commercial banks
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Services offered By Commercial Banks
• Provide safe place for cash• Give loans• Provides cash from your account• Night safe facilities• Foreign exchange purchases and sales• Credit cards• Fixed deposits• Public utilities services• E-banking
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Class Activities• Write up a simple budget for a day
at school using your lunch money as your income.
Project• Prepare a project on moneyRequirement1. Define the term money (5)2. State the functions of money (5)3. Development of the Jamaican currency (5)4. Jamaican currency (Past and Present Pictures) (10)5. Include 10 international currencies (pictures) (10)
Total marks (35)
Done by Mrs T.P. Austin 16
Done by Mrs T.P. Austin 17
The End
•Have a nice day ladies!!!!!!!!!!!!!
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