Useful for BTEC Level 3 Extended Certificate Unit 3 - Personal finance but can be used for many other units of work. Includes key words, discussion, activities, extended writing task, revision notes.
In detail, this lesson covers:
A Understand the importance of managing personal finance
A1 Functions and role of money
The ability to handle money received, and to control money paid, is a fundamental requirement for
personal and business success. This success relies on understanding what ‘money’ is.
• Functions of money:
o unit of account
o means of exchange
o store of value
o legal tender.
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