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LESSON: ONCE UPON A DIME
Lesson Summary
Farmer
Worth discovers that his farm now produces a new variety of crop - money!
By carefully using different kinds of animal manure, he grows
different kinds of money crops. What kind of farming is this? How
much money can he grow?
Concept: Trade and Money
Definition: People trade (exchange) with each other
to get the goods and services they want. To make trade easier, people
use money. (Money is anything commonly used
to exchange goods and services.)
Comprehension Questions
What
goods did Farmer Worth produce on his farm?
Apples, beans,
various kinds of animals.
What
did Farmer Worth use for fertilizer on his crops?
Various types of
animal manure.
Why did
do farmers use fertilizer on their farms?
It makes crops grow
much better. In other words, fertilizer increases a farm’s productivity.
More crops get produced per acre.
What
kind of money was grown from using the following types of animal
manure for fertilizer?
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Chicken
droppings: |
pennies |
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Pig squish : |
nickels |
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Sheep
biscuits: |
dimes |
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Cow pies: |
quarters |
|
Bull chips: |
dollar
bills | |
When
Farmer Worth used Chinese panda patties for fertilizer, what did his
tree grow?
Yuan - Chinese money
Was this real
money?
Yes. It won't purchase goods or services here in the United
States, but it will in China!
Bonus question:
Can
people trade (exchange) Chinese money for U.S. dollars, and vice
versa?
Yes! There are exchange rates for different kinds of money.
When a person from the U.S. goes to China, he must purchase yuan.
When a person comes here from China, he must exchange yuan for dollars.
People often exchange money at banks. In other countries, stores sometimes
will exchange currencies. Sometimes merchants in other countries will
accept dollars - but not always. This is because dollars are highly
valued by people in other countries.
Money
doesn't really grow on trees! How do people usually get
money?
They work for money at their jobs. This money is called
income.
Figure
out the total amount of money (from all the trees and fertilizers, but not
including the Chinese yuan) that Farmer Worth and the boy grew on the
farm.
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Pennies |
225 X .01 =
$ 2.25 |
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Nickels |
150 X .05 =
$ 7.50 |
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Dimes |
100 X .10 =
$ 10.00 |
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Quarters |
275 X .25 =
$ 68.75 |
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Dollars |
200 X
1.00 = $ 200.00 |
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TOTAL |
$
288.50 | |
Other Concepts: Goods and Services,
Productivity
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