MONEY

MONEY

DEFINITION
1. is a medium
  1. that can be exchanged
    1. for
      1. goods
      2. services
      3. repayments
FUNCTIONS
1. medium of exchange
2. measure of value
3. standard of deferred payement
4. store of value
TYPES
1. Commodity
  1. precious metals
  2. conch shells
  3. barleys, etc
2. Representative
  1. token coins
  2. paper money
  3. certificates
3. Fiat
  1. it has value
    1. only by goverment order
4. Coinage
  1. coins
    1. gold coins
    2. silver coins
    3. copper coins
5. Paper
  1. Banknote / note
  2. Checks
6. COmercial bank
  1. demand deposit account
    1. is an account
      1. which funds
        can be wuthdrawn at any time
        by check
        or card
7. Electronic or digital
  1. is the money balance
    1. recorded electronically
      1. in a stored-value card
MONEY SUPPLY OF A COUNTRY
1. consists of
  1. currency
    1. banknotes
    2. coins
  2. bank money
    1. checking accounts
    2. saving accounts

Resource summary

	Created by Katty Luy almost 9 years ago