Unit 6.Money and business
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People can spend money using cash, credit cards, or debit cards. Cash involves coins and banknotes, credit cards allow borrowing from banks with interest, and debit cards directly withdraw from bank accounts. People also save money through saving accounts that earn interest, money boxes, shares in businesses, and bonds that provide interest from governments or companies. Money can be spent on consumer products that are high-order and infrequently purchased like cars or low-order essentials like food, as well as services like utilities, restaurants, and entertainment. People develop budgets to plan spending on necessities and costs for households or businesses.
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Unit 6.Money and business
People can spend, save, and invest money in different ways. They can spend money using cash, credit cards, or debit cards. They can save money in savings accounts, money boxes, shares, or bonds. People also invest money by buying shares in companies or bonds from governments and companies. A budget helps people and businesses plan how to allocate their money for expenses.
Money and business
This document discusses different ways to manage money including saving accounts, investing, and money boxes. It also covers different methods of spending such as cash, credit cards, and debit cards. Products are categorized as high order or low order depending on price and frequency of purchase. Budgets are defined as amounts of money available to spend. Finally, different types of businesses are outlined including sole traders, partnerships, cooperatives, and corporations.
Money and business
This document discusses various ways to manage money including saving accounts, investing, money boxes, and using cash, credit cards, or debit cards. It also covers how money is spent on high order and low order consumer products and services in places like town centers, shopping centers, or online. Finally, it addresses different types of businesses like sole traders, partnerships, cooperatives, and corporations.
Money and business
This document discusses various topics related to money and business. It defines money and describes common ways to save money such as using a savings account, investing, or a money box. It also explains the difference between debit and credit cards. The document then discusses where money is typically spent, such as on essential goods, luxury items, and in town centers, shopping centers, or online. Finally, it provides definitions of budgets, different types of business organizations like partnerships, corporations, sole traders, and cooperatives, and explains what an organizational chart is.
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This document discusses various topics related to money, business, and economics. It explains that money is used to purchase goods and services, and was historically represented by objects like grains or shells. It also discusses ways to save money such as using money boxes, savings accounts, or investing. Businesses are organized in different structures like sole traders, partnerships, corporations, or cooperatives. Budgets help control spending, and money can be spent in various locations or on different types of products.
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This document discusses various topics related to money including how money is used, ways to save and spend money, budgets, types of companies, and organizational charts. It notes that money can be saved in money boxes, savings accounts, or through investing. Money can be spent using cash, debit cards, or credit cards in places like town centers, shopping centers, or on the internet. The document also defines what a budget and organizational chart are.
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Unit 6.Money and business
People can spend, save, and invest money in different ways. They can spend money using cash, credit cards, or debit cards. They can save money in savings accounts, money boxes, shares, or bonds. People also invest money by buying shares in companies or bonds from governments and companies. A budget helps people and businesses plan how to allocate their money for expenses.
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This document discusses different ways to manage money including saving accounts, investing, and money boxes. It also covers different methods of spending such as cash, credit cards, and debit cards. Products are categorized as high order or low order depending on price and frequency of purchase. Budgets are defined as amounts of money available to spend. Finally, different types of businesses are outlined including sole traders, partnerships, cooperatives, and corporations.
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This document discusses various topics related to money, business, and economics. It explains that money is used to purchase goods and services, and was historically represented by objects like grains or shells. It also discusses ways to save money such as using money boxes, savings accounts, or investing. Businesses are organized in different structures like sole traders, partnerships, corporations, or cooperatives. Budgets help control spending, and money can be spent in various locations or on different types of products.
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- 2. Ways of spending money CASH Coins and banknotes CREDIT CARDS The bank lends us money and we pay it back later. We pay interest to the bank. DEBIT CARDS The money leaves our bank account inmmediately. People can spend money on products and services.
- 3. Ways of saving money SAVING ACCOUNTS People put money into the account, and the bank pays interest on it. MONEY BOX A money box is a box or container where people save money. You can put money into a money box whenever you want. People save money for different reasons. For example, to buy a house or for a holiday.
- 4. SHARES You invest money in a business and buy a part of the company. You receive some money if the business does well. Ways of investing money Some people invest money. When you invest, you buy something with the objective of making more money. BONDS If you buy bonds, you lend money to the government or a company and they pay you interest.
- 5. We spend money on consumer products and services. CONSUMER PRODUCTS SERVICES HIGH ORDER PRODUCTS -They have a high price (cars, houses, fridges, computers…) -We don`t buy them regularly. LOW ORDER PRODUCTS -They have a lower price (food, drinks, medicines…) -We buy them regularly. Gas, electricity and water are services. We receive bills that we have to pay. Bars, cinemas, restaurants… are other services.
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