The Use of $Money$ in the Virginia Colony - PowerPoint PPT Presentation

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The Use of $Money$ in the Virginia Colony

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Trading or Exchanging of Goods and Services without the Use of Money. COLONISTS ... Money put away to save or to spend at a later time. REVIEW. CREDIT: ... – PowerPoint PPT presentation

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Title: The Use of $Money$ in the Virginia Colony


1
The Use of Moneyin the Virginia Colony
SOL VS. 4d
2
Did YOU Know?
NO Banks
NO Paper Money
NO Coins
3
WHAT do you think the colonists used instead?
4
TOBACCO
  • Used as money
  • Paid for goods and services
  • Known as Green Gold

5
PRETEND

YOU HAVE NO MONEY
ALL you have are your Toys and Video Games
Your friend has a really COOL toy you would like
to have.
What would you do to gain possession of
your friends toy?
6
BARTER
  • Trading or Exchanging of Goods and Services
    without the Use of Money

7
COLONISTS
  • Bought goods and services on credit
  • Paid their debts when their crops were harvested
    and sold
  • Created savings

8
CREDIT
  • Buy a good or service NOW
  • Pay for it LATER
  • Example Credit Cards and Bills

9
DEBT
  • Good or service owed to others
  • Example Homework

10
SAVINGS
  • Money put away to save or to spend at a later
    time

11
REVIEW
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