There are four basic functions of money: The first is as a medium of exchange. The second is as a unit of account. The third is as a store of value. The fourth is as liquidity. The most obvious function of money is as a medium of exchange. When you hand the waiter a five-dollar bill in exchange for your hamburger‚ you are using money as a medium of exchange. You might have a hard time paying for your hamburger with five dollars worth of apples‚ but if you did‚ the apples would serve as a
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3. MONEY Money is everything that serves as universally excepted medium of exchange or means of payment. Functions of money: Medium of exchange – enables people to exchange goods and services for other commodities Store of value – at home money loses value because of inflation so it is better to deposit financial assets with a bank. Money can also be stored in other forms – securities (cenné papiry)‚ shares‚ or bonds (dluhopisy‚ obligace). We can also invest in properties‚ lands‚ arts‚ jewelry
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money cannot buy everything Do you think that money is the most important thing in the world? Can happiness really be bought by money? In a money-oriented city like Hong Kong‚ it is not strange that over a third of youth think that money can buy happiness. Yet‚ it is an irony that our pillars carry such a thought. In this essa Premium 982 Words 4 Pages The Theme of Money Is Not Everything in the Lorraine Hansberry‚ a Raisin in the Sun. The Theme of Money is not Everything in the
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6) Borrow 7) Waste 8) Owe 9) Lend a) to have enough money to buy something you want b) use money on something you don’t need c) give somebody money that they must return d) get money from somebody that you must return e) keep money for future use f) give money to somebody who you borrowed from g) give/pay money for something h) get money by working i) to need to return money to someone because they have lent money to you Answers: word: 1 2 3 4 5 6 7 8 meaning: H
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When asked how money makes trade easier‚ to me I think‚ money‚ for the most part‚ does not change its denomination. The value of each bill is printing onto the face of it. When value is established up front‚ there is no need for guesswork or evaluation‚ an individual is automatically aware of the value of money. Trading is only simple‚ if one is not attempting to determine if the values of what they are trading are equal. For example‚ when you want to purchase a car‚ and want to make a trade with
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THE ROLE AND USES OF MONEY The classical economists were of the view that money was discovered to remove the defects of barter. The important functions of money for them were to serve as a medium of exchange and standard of material. They examined in detail the characteristics of a good money material and the forces which operate in determining the value of money. The classical economists were of the view that the volume of output‚ the quantity and quality of the goods to be consumed‚ the volume
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Introduction: Plastic money is the alternative of cash or the standard ’money’. Plastic money is used to refer to the credit cards‚ debit cards that we use to make purchases in our everyday life. Plastic money is much more convenient to carry around as you do not have to carry a huge some of money with you. It is also much safer to carry it along or to travel with it as if it is stolen one can consult the bank whose service you are using and get it blocked hence saving your money from getting stolen
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THE FUNCTION OF MONEY A usual thing in economics is money. When we say that a person has a lot of money‚ we usually mean that he or she is wealthy. By contrast‚ economists use the term “money” in a more specialized way. To an economist‚ money does not refer to all wealth but only to one type of it: money is the stock of assets that can be readily used to make transactions. Roughly speaking‚ the dollars in the hands of the public make up the nation’s stock of money. Money has three purposes:
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The function of money The main functions of money are distinguished among the terms of: a medium of exchange‚ a unit of store value and standard of deferred payments. Money as a Measure of value In money‚ economy values of all commodities are expressed in the terms of money. Money is the means by which we a measure the disparate things which make up the economy. This functions of money makes transactions. Money as a store of value In order to be a medium of exchange‚ money must hold its value
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Influence of Money Money can buy almost anything in this world. It can give you whatever you want to have or give you what you need. Money can give people food‚ clothes‚ shelter and medicines of the best kinds depending on what value they will give. One can get money through their allowances‚ salaries or wages. The only thing to do now is to save it so that it will increase in due time. Money is an object – it may be cash or paper bills. It has a value depending on a country. For example‚ if your
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