Ralphy is eight. He has five dollars saved in his piggy bank, and he knows it would be the same amount as 500 pennies or as a five-dollar bill. Ralphy's understanding of money is best described as

Question

Quizplus · Accepted Answer

Ralphy's understanding of money is best described as conservation of value, as he understands that five dollars, 500 pennies, and the five-dollar bill all have the same value. This indicates an understanding of the conservation of the value of money across different forms.

Ralphy Is Eight