Money and how demands and supply affects it is the topic of module one. I believe that to me the three most important lessons in module one was demand, the green and what it means quiz, and why can’t I have it all? Now in the following few paragraphs I will do my best in explaining why I believe that.
In the demand section of module on teaches us how to exchange of goods and services. Everyone will go through this kind of exchange for the rest of our lives. Let’s say a new game station comes out and you’d like to buy it, demand comes into play because we will be able to determine if the price will increase or decrease due to the demand amount and then we can decide if we want to make the purchase or not.
The second section I found important was The Green and What It Means. This section basically tough us all about money. We learn about currency, debit cards and government bonds. The lesson also teaches us how to tell real money from counterfeit and the key signs to look for. We can look for the faces in the money, the invisible strip or use a counterfeit marker too. We also learn what type of money the government uses and the laws relating to currency and the four functions of money tell you the different ways you use money and you’re going to come across all those ways in life.
Why Can’t I Have It All lesson tough us all about scarcity and scarcity forces us to make choices. In all the choices there are trade-offs and there are also benefits. You have to decide which one will be better for you. Trade-offs is also referred to as cost of choices as well-- one you truly give up is the opportunity cost. It teaches us about the cost and benefit analysis which helps us make an educated choice and which we all need in life.
I believe the Green and What It Means is probably the most important of all the lessons in my opinion. It tells how the actions of counterfeiting and printing more money doesn’t solve economic problems, as much as we’d like it to. I know we all actually thought about just printing more money whenever we need more money. It tells us the value of money and that it never changes, I know if I were to store away money for later use that the value the money has now will forever be its value. That’s why all these lessons are lessons we can use in life because life is about money!