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Understanding Money: The Journey from Shells to Digital Dollars
A long, long time ago, people didn't use money. They used to barter, which means they exchanged goods they had for goods they needed. Imagine trading apples for a new pair of shoes! But this was hard, so people started using shells, stones, and even feathers as money.
With time, we have evolved to using coins, then paper money, and now even digital dollars on our computers and phones. Money is something we earn by working. For you, this could mean doing chores at home like cleaning your room or helping in the kitchen.
Once you earn money, it's important to know what to do with it. You can spend it, but you shouldn't spend it all! It's important to save some money too. This is called budgeting.
Saving money can also be done at banks, where your money can grow over time. Just like a tiny seed turns into a big tree, your saved money can grow too!
Lastly, it's also important to donate some money to help those who need it. So remember, earn, save, spend wisely, and don't forget to be kind!
Question 1
What does barter mean?
Trading goods for goods
Explanation. In the given text, Barter is introduced as an old system where people would trade goods they had, for goods they needed.
Saving money
Exchanging goods for money
Using shells as money
Donating goods
Question 2
What was used as money before coins?
Digital Dollars
Paper
Feathers, shells and stones
Explanation. The text mentions that before the use of coins, people used shells, stones, and even feathers as money.
Barter system
Banks
Question 3
Why should we not spend all the money we earn?
Because we need to donate it all
Because we should save some of it
Explanation. The text clearly mentions that once we earn money, it's important not to spend it all and to save some. This is called budgeting.
Because we should invest it all
All money is bad
No reason mentioned in the text
Question 4
What happens to the money when we save it in a bank?
It gets lost
It decreases
It remains the same
It grows over time
Explanation. The text says that when we save money in a bank, it can grow over time. It uses the metaphor of a tiny seed turning into a big tree.
None of the above
Question 5
What should we remember to do with our money?
Spend it all
Earn, save, spend wisely, and donate
Explanation. The text concludes by reminding us to earn, save, spend wisely, and to remember to be kind by donating some money to those who need it.
Save it all
Invest it all
Donate it all
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