Get funky with this game about the three functions of money.

Students might think they know the fuction of money: to buy and sell things (or a medium of exchange). But they might not know that is only one of the three main functions of money. This interactive game from Marginal Revolution University will demonstrate to students how money can be a store of value, a unit of account, and a medium exchange--and possibly increase their appreciation for any future money they earn.

Questions:

• Imagine your life without the existence of money. How would you measure wealth, save for the future, or trade for goods and services?
• Think of a time you purchased something. How would that transaction have been different if you had to use a barter system instead of money?
• Reflect on a past shopping experience. How did the prices (as units of account) influence your purchasing decisions?
• Consider saving money for a future purchase or investment. How does the concept of money as a store of value impact your saving behavior?

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Be sure to check out NGPF's Behavioral Economics unit for lessons, activities, and more!

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Looking for more interactive resources? Be sure to check out the NGPF Interactive Library. 

About the Author

Ryan Wood

Ryan grew up with and maintains a love for learning. He graduated from the University of Wisconsin-Green Bay with a degree in Business Administration and worked in sports marketing for a number of years. After living in Texas, Colorado, Tennessee, and Minnesota, the call of education eventually brought Ryan back to his home state of Wisconsin where he was a Business and Marketing teacher for three years. In his free time he likes to spend time with his wife and daughter, play basketball, read, and go fishing. Now with NGPF, Ryan is excited to help teachers lead the most important course their students will ever take.