Thursday, September 03, 2015
Tuesday, September 01, 2015
Monday, August 31, 2015
Functions of Money, Tipping Point Quiz Tomorrow
Sparknotes site on money if you missed today
Money has three main functions:
1: it is a medium of exchange
2: it is a store of value
3: it is a measure of value or unit of account
Good money is portable, durable, and divisible. Its value must be recognized. In our economy, we use fiat money, meaning it has no inherent value, but instead is functional due to its perceived value alone.
Don't forget the chapter 3 tipping point quiz tomorrow.
Money has three main functions:
1: it is a medium of exchange
2: it is a store of value
3: it is a measure of value or unit of account
Good money is portable, durable, and divisible. Its value must be recognized. In our economy, we use fiat money, meaning it has no inherent value, but instead is functional due to its perceived value alone.
Don't forget the chapter 3 tipping point quiz tomorrow.
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