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You be the bank! Using the website Kiva.org you will connect with and lend money to small business owners in third world countries who are seeking to grow their businesses, but would not otherwise qualify to borrow money from traditional sources. |
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Microcredit is the extension of very small loans to the unemployed, to poor entrepreneurs and to others living in poverty. These individuals lack collateral, steady employment and a verifiable credit history and therefore cannot meet even the most minimum qualifications to gain access to traditional credit. Watch PBS FrontLine Reports and Video
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Starting a business is a big step. You have to have a good idea, work out all the details needed to put it into operation, and be firmly convinced of your ability to make it work. Maybe you’d like to start a small business someday? For now your job is to decide what loan applicants to make loans to while learning about entrepreneurship and real people in our global community.
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Process 1. First, create a Google Documents account at google.com that you will use to create, store, and share your completed assignments. Next, create a new document in which you define the following vocabulary words using the link below:
2. Research and answer the following FAQ’s about micro-lending:
3. At the Kiva.org site on the “Lend” page, review the most current applicant profiles and choose one you think is worthy of a class loan.
4. It is important to understand more about the social, economic, geographic, and political challenges people in developing countries face. Choose a Kiva.org loan applicant then research and answer the questions on the CIA Factbook worksheet, which can be printed or copied into a Google document from the following link, about their country of origin : CIA Factbook Worksheet
5. Comparing Standards of Living in the Global Economy View the following video at: miniature-earth.com People living in the developed countries of the world enjoy a higher standard of living and quality of life than people living in the developing or transition countries. The term standard of living is a measurement of people’s economic well being as determined by income and the purchasing power of that income. The term quality of life is far broader than standard of living. Quality of life refers to the overall economic, social, political, and cultural conditions under which people live. Major determinants of one’s quality of life include people’s access to the necessities of life, such as food, clean water, clothing and shelter. It also includes people’s access to essential services that will help them achieve to their potential, such as education, a health care system, communications and technology, and so on. In recent years, quality of life issues have also included specific mention of people’s civil and human rights—including equality for women in education, the workplace, and the family. Follow this link to access the Comparing Standards of Living assignment. After completion make sure to share your completed work from tasks #4 and #5 with your teacher. 6. Finally, share your experience! With all the information you have collected throughout this webquest, create an informative media presentation that overviews what you've learned and what others should know about micro-lending and life in developing countries. Presentation Resources: Evaluation
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