102.1 Lesson - moneySocialAgreement

Screen: moneySocialAgreement

Headline: Money is a social agreement.

Reward: 2

Text: Money requires people to trust. People trust the paper dollar bills in their pocket. They trust the digits in their online bank account. They trust the balance on a store gift card will be redeemable. Having money allows people to easy trade it immediately for a good, or a service.

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QUIZ

Question: Why does money have value?

Answer: Because people trust that other people will value money similarly

Feedback: Correct. This is what allows money to work!

Correct: true

Answer: Because your mother told you so

Feedback: She may well have. But that is not the correct answer here!

Correct: false

Answer: Because a dollar bill is worth its weight in gold

Feedback: Nope. In the past you could exchange US dollars for gold. But this is no longer the case.

Correct: false