The area of a circle is calculated using the formula:

$A = \pi r^2$

Given that the radius $r = 1$ meter and using $\pi \approx 3.14$, we substitute:

$A = 3.14 \times (1)^2$

$A = 3.14$

So, the area of the circle is 3.14 square meters.

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Here are some related questions:

1. What is the circumference of a circle with a radius of 1 meter?
2. How does increasing the radius affect the area of a circle?
3. If the radius were doubled, what would the new area be?
4. How is the area formula derived from calculus?
5. What is the difference between area and circumference in terms of growth?

Tip: The area of a circle increases quadratically with the radius, meaning if you double the radius, the area becomes four times larger!