Word #26 Accounts Payable- Payments that you make to a person or company. Example- Accounts payable are the bills you pay, and the payments you pay for a good or service.
Sentence- You want your accounts payable to be low.
Word #27 Accounts Recieveable- Money made from selling or investing in something. Example- Accounts payable means the money that you are making. Sentence- You want your accounts recievable to be higher that accounts payable.
Word #28 Amortize- To write off an expenditure for (office equipment, for example) by prorating over a certain period. Example: To amortize someting, you would right it off as a business expense. Sentence- We amortized exhaust pipes as a business expense for our trucking business.
Word #29 Economic Indicator- Something such as the Dow Jones or NASDAQ that shows an overview of the stock market. Example- Check an economic index such as the S&P 500 to see how stocks are doing. Sentence- After seeing that the Dow Jones was down, I decided I should buy more stocks before they go up.
Word #30 Depreciation- To drop or take away in value. Example- Smashing a door on a car will depreciate its value. Sentence- The resturant's property value depreciated when a violent gang moved into the area.
Transaction- I bought 80 shares in Under Armour this week, at the time of purchase each share was $83.50, and it is now at $77.02. I expect it to go up to atleast to $85 in the coming month or so, because of winter clothing being needed more. Under Armour makes athletic and sports clothing that is popular among hunters for the lightweight but warm clothing they make. They are also favored by athletes because the clothing helps them stay dry and warm, or cool and dry, depending on sport and time of year. They are in the Consumer Good sector.
Friday, November 18, 2011
Wednesday, November 16, 2011
Journal 11/15/2011
In the candy stock simulation, we used different types of candy such as Laffy Taffy, Mr. Goodbar, and other candies to simulate money. For example, the marshmallow pumpkins were "$100", and the banana Laffy Taffy was "$5". We had to makes trades with other groups, depending on the changing prices. When we first walked in, the candy was scattered all over the floor, and when we were given the go ahead, we had to get as much candy as we could get in order to start with plenty of "stocks". We then had to watch the boards to pay attention to the prices of different candies and trade them accordingly. One of our best stocks, Krackle, split, doubling the value of our Krackle bars. After the trading, we added up all our "stocks" and came up with a total account value. Our group was a little over $3000, with plenty of diversity in our stocks.
(Vocab and transactions in separate post)
(Vocab and transactions in separate post)
Thursday, November 10, 2011
Game Standards
1. Students formulate solutions to economic problems
The game "My Country" on the iPad helps students formulate solutions to economic problems by making them build parks or electricity sources to fund/ support a building. It also helps them manage money by getting profits from businesses to pay for projects in the game.
2. Students explain how different economic systems are organized for production, distribution, and consumption of goods and services.
The game helps students explain different economic systems and how they work by showing how money is spent on different things and that money spent stays in the city, being circulated by being spent on different things, then made back from profits of businesses.
3. A student demonstrates and understanding of economic principles that influence individual financial planning.
This game helps the student learn how to conserve money for bigger and better things, but also shows that spending money can make you money. An exmaple of this is spending money to open a taxi center, and money is made by the use of the taxis.
4. Students evaluate the impact of technology and how it has shaped history and influenced the modern world.
Technology has impacted the world and shaped history by making information more accesible to everyone. An example is the telelphone. It made information easier to spread and the world became more connected and informed of current events.
5. Students analyze current events to better understand the world in which they live.
The game helps students analyze currents event by showing what is happening in a business or in another place. It does this by showing other cities and their cerrent events. It also helps students learn how to manage resources because of shortages and limited funds, much like the real world.
6. Students explain how past events impact present and the future.
The games helps students better explain the impact the past has on the present and future by showing that some business may work well and make the student profit, but others were not a good investment in the beginning and it can impact the student later in the game from draining money.
7. Student interpret charts, maps, and graphs to answer questions dealing with people, places, events, or environments.
The game helps students by showing an overview of their city, and showing charts and graphs of profits and other transactions. Students must use charts and graphs to move to a new era.
8. Students demonstrate an ability to organize and process info about people, places, and events.
Students must be up to date on their cities events and business contracts and other important events. An example is organizing buildings so that they are in the most efficient places, or windmills being placed in an open area.
The game "My Country" on the iPad helps students formulate solutions to economic problems by making them build parks or electricity sources to fund/ support a building. It also helps them manage money by getting profits from businesses to pay for projects in the game.
2. Students explain how different economic systems are organized for production, distribution, and consumption of goods and services.
The game helps students explain different economic systems and how they work by showing how money is spent on different things and that money spent stays in the city, being circulated by being spent on different things, then made back from profits of businesses.
3. A student demonstrates and understanding of economic principles that influence individual financial planning.
This game helps the student learn how to conserve money for bigger and better things, but also shows that spending money can make you money. An exmaple of this is spending money to open a taxi center, and money is made by the use of the taxis.
4. Students evaluate the impact of technology and how it has shaped history and influenced the modern world.
Technology has impacted the world and shaped history by making information more accesible to everyone. An example is the telelphone. It made information easier to spread and the world became more connected and informed of current events.
5. Students analyze current events to better understand the world in which they live.
The game helps students analyze currents event by showing what is happening in a business or in another place. It does this by showing other cities and their cerrent events. It also helps students learn how to manage resources because of shortages and limited funds, much like the real world.
6. Students explain how past events impact present and the future.
The games helps students better explain the impact the past has on the present and future by showing that some business may work well and make the student profit, but others were not a good investment in the beginning and it can impact the student later in the game from draining money.
7. Student interpret charts, maps, and graphs to answer questions dealing with people, places, events, or environments.
The game helps students by showing an overview of their city, and showing charts and graphs of profits and other transactions. Students must use charts and graphs to move to a new era.
8. Students demonstrate an ability to organize and process info about people, places, and events.
Students must be up to date on their cities events and business contracts and other important events. An example is organizing buildings so that they are in the most efficient places, or windmills being placed in an open area.
Friday, November 4, 2011
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