* Function of money * Store of wealth (value) is any form of commodity‚ asset‚ or money that has value and can be stored and retrieved over time. Real estate‚ precious metals‚ gem stones‚ and similar assets can be a store of value. In all of these cases‚ people can exchange these items and hold them for varying periods of time. The value may even rise in storage‚ and sometimes a store of value can be held strategically with the goal of enjoying a rise in value‚ as for example with people who
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THE HISTORY OF MONEY [A] The yen‚ the dollar‚ the quetzal‚ or the peso—no matter what the currency is called‚ money is an important part of life in nearly every culture today and has been throughout history. The concept of money dates back thousands of years. Originally‚ money was not metal coins or paper bills. Rather‚ people paid for things with objects that were useful and therefore considered valuable. We sometimes call this commodity money. Some examples of commodity money used throughout
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MONEY LAUNDERING IN THE BANKING SECTOR TABLE OF CONTENS 1. | MONEY LAUNDERING – the concept An organized crime Why it is done?? | 2. | Stages and Process Of Money Laundering | 3. | Vulnerability of the Financial System to Money Laundering | 4. | Banking Sector: Medium‚ Regulator And Cause | 5. | Private Banking And Money Laundering: | 6
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TYPES OF MONEY: 1. Commodity Money: Whenever any commodity is used for the exchange purpose‚ the commodity becomes equivalent to the money and is called commodity money. There are certain types of commodity‚ which are used as the commodity money. Among these‚ there are several precious metals like gold‚ silver‚ copper and many more. Again‚ in many parts of the world‚ seashells (also known as cowrie shells)‚ tobacco and many other items were in use as a type of money & medium of exchange
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Koffa Gboilee Money and Banking Topic proposal To: Professor: James Garvin Date: 3/22/2014 In the last five years‚ the Federal Reserve has adopted a huge monetary system of decreasing and minimizing the pressure of the interest rate to assist and unsure the hesitant economy and the financial market. The Federal Reserve has by all means put in every strategy to eliminate the impending or disaster that will maintain the cause of recession at the very lowest point of happening. The Federal
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serve as money? Consider each as (1) a medium of exchange‚ (2) a unit of account‚ and (3) a store of value. a. Visa credit card It is not money because it fails the store of value test. b. Federal Reserve note Yes it can serve as money. c. Dog No‚ it cannot be used. d. Beer mug No‚ it cannot be used. 4. What backs the US dollar? Include the distinction between commodity money and fiat money in your answer. Commodity money is anything that serves as money while having market value in other
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In India‚ the concept of plastic money caught on in the late1980s only after private sector banking came into practice. • Debit card Debit cards are upgraded atm cards branded with Visa‚ Mastercard‚or other familiar credit cards company logo. They look exactly like credit cards except directly tap your checking account every time when you make a purchase or withdrawl. They are easier‚ more convenient ‚less burdensome and offer greater access to your money than do checks ‚ATMs‚ or credit cards
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1. Is “The Money Doctors” a partnership‚ and if so‚ who are the partners? Main Issue: To identify if “The Money Doctors” is a partnership and if so‚ who are the partners of the business. Relevant Law: Partnership is the relation which subsists between persons carrying on a business in common with a view of profit. There are four conditions in which all must be satisfy are the followings: Agreement Partnership relationship may be formed by deed‚ in writing‚ verbally and lastly by inference
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Although our world consists of different countries‚ time zones‚ and cultures‚ we all experience the concept of time. In Richard Lewis’s article “How Different Cultures Understand time”‚ there are two main types of perception of time; monochronic and polychronic. Monochronic time is best described as flowing in a linear line‚ forever extending into the future. People who function in a monochronic society are individualistic cultures and are very clock-driven who are concerned with schedules and appointments
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MONEY MARKET The money market is a component of the financial markets for assets involved in short-term borrowing and lending with original maturities of one year or shorter time frames. Trading in the money markets involves Treasury bills‚ commercial paper‚ bankers’ acceptances‚ certificates of deposit‚ federal funds‚ and short-lived mortgage- and asset-backed securities. It provides liquidity funding for the global financial system. Money markets and capital markets are parts of financial
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