review microeconomics macroeconomics oecd currency values transportation languages and culture
TRANSCRIPT
![Page 1: Review Microeconomics Macroeconomics OECD Currency values Transportation Languages and culture](https://reader030.vdocument.in/reader030/viewer/2022033106/56649d0d5503460f949e241d/html5/thumbnails/1.jpg)
Review
•Microeconomics•Macroeconomics •OECD •Currency values • Transportation• Languages and culture
![Page 2: Review Microeconomics Macroeconomics OECD Currency values Transportation Languages and culture](https://reader030.vdocument.in/reader030/viewer/2022033106/56649d0d5503460f949e241d/html5/thumbnails/2.jpg)
Factors of SavingBy Kru Danny
![Page 3: Review Microeconomics Macroeconomics OECD Currency values Transportation Languages and culture](https://reader030.vdocument.in/reader030/viewer/2022033106/56649d0d5503460f949e241d/html5/thumbnails/3.jpg)
Vocabulary
• Saving• Interest • Savings account•Money market deposit account (MMDA)• Time deposits •Maturity
![Page 4: Review Microeconomics Macroeconomics OECD Currency values Transportation Languages and culture](https://reader030.vdocument.in/reader030/viewer/2022033106/56649d0d5503460f949e241d/html5/thumbnails/4.jpg)
How much do you save?
![Page 5: Review Microeconomics Macroeconomics OECD Currency values Transportation Languages and culture](https://reader030.vdocument.in/reader030/viewer/2022033106/56649d0d5503460f949e241d/html5/thumbnails/5.jpg)
Harvard University
Harvard university undertook a survey about teaching children about
saving.
They said, by the age of 3, children can grasp concepts
of money.
By the age of 7, children already have their habits which will stay with them through their older years.
![Page 6: Review Microeconomics Macroeconomics OECD Currency values Transportation Languages and culture](https://reader030.vdocument.in/reader030/viewer/2022033106/56649d0d5503460f949e241d/html5/thumbnails/6.jpg)
![Page 7: Review Microeconomics Macroeconomics OECD Currency values Transportation Languages and culture](https://reader030.vdocument.in/reader030/viewer/2022033106/56649d0d5503460f949e241d/html5/thumbnails/7.jpg)
•Saving – setting aside income for a period of time so that it can be
used later on.
![Page 9: Review Microeconomics Macroeconomics OECD Currency values Transportation Languages and culture](https://reader030.vdocument.in/reader030/viewer/2022033106/56649d0d5503460f949e241d/html5/thumbnails/9.jpg)
• Any saving that you do now may be only for purchases that require more funds than you have at one time.
• When an individual saves, the economy as a whole benefits.
• HOW?
• Saving provides funds for others to invest of spend.
• Saving also allows businesses to expand, which provides increased income for consumers and raises the standard of
living.
![Page 10: Review Microeconomics Macroeconomics OECD Currency values Transportation Languages and culture](https://reader030.vdocument.in/reader030/viewer/2022033106/56649d0d5503460f949e241d/html5/thumbnails/10.jpg)
Where do I keep my money?
![Page 11: Review Microeconomics Macroeconomics OECD Currency values Transportation Languages and culture](https://reader030.vdocument.in/reader030/viewer/2022033106/56649d0d5503460f949e241d/html5/thumbnails/11.jpg)
• You have many options regarding places to save your money:
• Commercial banks • Savings and loan associations• Savings banks • Credit unions
![Page 12: Review Microeconomics Macroeconomics OECD Currency values Transportation Languages and culture](https://reader030.vdocument.in/reader030/viewer/2022033106/56649d0d5503460f949e241d/html5/thumbnails/12.jpg)
Trade-offs
• When searching for your best savings plan, you need to consider the rate of interest that you will
get back.
• Interest – the rate (percentage) of money you will receive back after investment.
![Page 13: Review Microeconomics Macroeconomics OECD Currency values Transportation Languages and culture](https://reader030.vdocument.in/reader030/viewer/2022033106/56649d0d5503460f949e241d/html5/thumbnails/13.jpg)
How to save
• 1) Determine reasons to save.
• 2) Determine amount of funds to set aside.
• 3) Decide what type of account you will use.
• 4) Decide frequency of deposit
• 5) Decide when to invest a portion of what you have saved.
![Page 14: Review Microeconomics Macroeconomics OECD Currency values Transportation Languages and culture](https://reader030.vdocument.in/reader030/viewer/2022033106/56649d0d5503460f949e241d/html5/thumbnails/14.jpg)
Where to save Type of account
Minimum deposit?
Rate of Interest
Availability of funds
Savings No Low Immediate
Money market
$1,000 High Immediate
Time deposit
$1,000 High Penalty for early withdraw
![Page 15: Review Microeconomics Macroeconomics OECD Currency values Transportation Languages and culture](https://reader030.vdocument.in/reader030/viewer/2022033106/56649d0d5503460f949e241d/html5/thumbnails/15.jpg)
Savings account
• A basic savings account is an interest-earning account that has no set maturity.
• Funds from such accounts can be withdrawn at any time without penalty.
• Penalty – early withdraw of money will result in a fee.
![Page 16: Review Microeconomics Macroeconomics OECD Currency values Transportation Languages and culture](https://reader030.vdocument.in/reader030/viewer/2022033106/56649d0d5503460f949e241d/html5/thumbnails/16.jpg)
Money Market Deposit
• A money market deposit account (MMDA) is another type of account that pays high rates of
interest.
• It also allows immediate access to your money.
• However, the trade-off is that you must invest in a minimum amount; $1000 - $2,500.
![Page 17: Review Microeconomics Macroeconomics OECD Currency values Transportation Languages and culture](https://reader030.vdocument.in/reader030/viewer/2022033106/56649d0d5503460f949e241d/html5/thumbnails/17.jpg)
Time deposits
• Time deposit accounts requires savers to deposit their savings for a certain period of time.
• This period of time is called, maturity.
• It could be 1 month to 10 years maturity.
• Time deposits offer higher interest rates than MMDA or savings accounts because of the length of saving
maturity.