Directions: Make a Venn diagram showing the similarities and differences of money and time. Money or lugal is essential for meeting basic needs like food, shelter, and healthcare, and financial security. However, it's important to note that money cannot buy happiness, and excessive focus on money can lead to stress and unhappiness. While oras or time is a finite resource that cannot be replaced or extended. It allows us to spend time with the people important to us, our loved ones. We can also pursue our dreams and take care of our physical and mental health like exercising reading books or seeing nature. Time and money are two important resources in decision-making. Both are valuable and limited. However, money can be earned if gone, but time never.
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- Both money and time are limited resources. - Both money and time are essential for meeting basic needs and achieving financial security. - Both money and time are important in decision-making. Show more…
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Most of the time it is quite difficult to separate the three functions of money. Money performs its three functions at all times, but sometimes we can stress one in particular. For each of the following situations, identify which function of money is emphasized. a. Brooke accepts money in exchange for performing her daily tasks at her office, since she knows she can use that money to buy goods and services. b. Tim wants to calculate the relative value of oranges and apples, and therefore checks the price per pound of each of these goods as quoted in currency units. c. Maria is currently pregnant. She expects her expenditures to increase in the future and decides to increase the balance in her savings account.
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