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 is the Partnerships and Adoption Manager for Next Gen Personal Finance’s midwest region. He brings his experience as a former teacher, curriculum designer, and sales and marketing professional to state organizations and school districts in supporting the implementation of their personal financial education efforts. He graduated from the University of Wisconsin-Green Bay and earned his teaching credential from Saint Mary’s University in Winona, Minnesota. He proudly taught at two rural high schools in Wisconsin before transitioning to curriculum design at NGPF, and is now excited to be on the front lines in delivering the best possible financial education in the midwest. He and his wife have three beautiful daughters, each of which inspire him to share the impact of being sound financial stewards both at home and as lifelong learners.