Virtual Assignment

3/17/2016

alUnit: Money & Banking

I. Video: "Housing Crisis"
Watch the Video. Please answer the following questions.
(Video can be found at bottom of website)

II. Define Terms

Recall
Who-
What-
When-
How-
Why-

Skill
Cause/Effect-

Money Terms
Mortgage
Credit Card
Interest
Principal
Debit Card
Foreclosure
Barter
Medium of Exchange

2 Comments

Sam Adcock

4/3/2016 07:19:40 pm

Whom did the housing crisis affect?
Everyone in the United States and many people in other parts of the world.
What effect did it have on people?
People were laid off from their jobs, lost their savings, and many people had their homes foreclosed
When did the housing crisis begin?
The decline of the housing market began in 2006.
Why were peoples' homes foreclosed?
They couldn't pay their mortgages.
How did the U.S. government try to handle it?
President Bush and the Chairman of the Federal Reserve decided on a bailout for homeowners who couldn't afford their mortgages.
Cause/effect: The housing crisis caused problems in real estate, retail, the stock market, and many other parts of the United States economy.

Mortgage - borrowing money to purchase a piece of property then paying the money back over time
Credit Card - a card that allows a person to make a purchase and pay it back later
Interest - a certain percentage of a loan that is added to the amount to be paid back over time
Principal - the original amount borrowed
Debit Card - card that sllows someone to make a direct withdrawal from their bank account to make a purchase
Foreclosure - a bank withdrawing their permission for a person to use a piece of property they bought with borrowed money if they can't pay it back
Barter - trading goods/services for other goods/services
Medium of Exchange - anything used to mediate a purchase/sale; currency

Helen Lopez

4/6/2016 07:56:17 pm

I emailed the questions/answers on a separate doc.

Skill
Cause/Effect-
The cause good be the property owner is laid-off from work, got to an accident, or is in debt. The bank will take back the home with everything in it and try to sell it.

Money Terms
Mortgage-Borrowed to money from a bank or business to buy property or any good goods costing a large sum of money.

Credit Card-A card used to purchase goods with loaned out money that needs to be paid by the end of the month.

Interest-A percentage rate put on loaned out money so the bank can make money.

Principal-The beginning amount without interest.

Debit Card-Card that allow a person to make a money transaction to buy a good from their bank account with out withdrawing paper money

Foreclosure-The bank taking back the property due to the lack of payments the owner is not giving to the bank in a long a period of time.

Barter-A fair trade/exchange for goods or services.

Medium of Exchange-Something commonly recognized in a country or community as a standard of value and used in the same way as money.

Virtual Assignment

Leave a Reply.

Author

Archives

Categories