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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What do teenagers do in their spare time? They are on Facebook! This is Bristol Follow Wednesday‚ November 10‚ 2010 WHAT do we teenagers do in our spare time? Hang round by shops with our hoods up‚ knifes in pocket‚ shouting abuse and getting drunk? Yes‚ all those grown ups would like to think that but‚ we normally just go out to have fun - go to the cinema‚ shopping and places like that! Or we are on Facebook. We will spend our lives‚ sharing our lives‚ on Facebook. From posting pictures
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Money And Its Functions Term paper in macroeconomics Theme: Money and its functions in today’s economy Kopaeva Valeriya IFF 2-3 Contents Introduction 1. History of money 2.1 Barter 2.2 Commodity money 2.3 Standardized coinage 2.4 Fiat and credit money 2. Money and its functions and characteristics 3.5 Money as a measure of value 3.6 Money as means of exchange 3.7 Money as a means of accumulation and a store of value 3.8 Money
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Money as a medium of exchange is an item that buyers give to sellers when they want to purchase goods or services. An example of how I use money as a medium of exchange is simple. Every week when I do my grocery shopping‚ I give the cashier money‚ whether it is in the form of cash‚ or debit card‚ in exchange for groceries. Money as a unit of account is the yardstick people use to post prices and record debt. When we want to measure and record economic value‚ we use money as the unit of account.
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are several main functions of money. They are; unit of account‚ medium of exchange‚ and store of value. Each function describes how money is used in the economy. The medium of exchange speaks to how we use money in exchange for goods. It is like a barter to get someone that has what I want to give it to me in exchange for something that they want. Money makes this an easier exchange. Everyone wants money‚ as it allows them to turn around and purchase what they want. If not for money we would have to
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types of people as regards to spending money. One of them are the ones who could spend all of their money without even buy something substantial. On another hand‚ the ones who never spend more money than they could afford to spend. Since the life becomes increasingly difficult‚ I believe that‚ it is better to save some money for your future instead of spending them for immediate pleasures. First of all‚ at some point of your life‚ you might need more money than you could afford with your salary
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comfortably amid his wares. He seemed to have every kind of grain flour salt spice and all the hot things which go to make curry. There were also some sweet meats for sale but I should not have cared to eat his jellebi after so many flies had held a feast on it. The next shop had many rolls of clothes mostly cheap cotton prints from the Faisalabad mills while beyond that I found a shopkeeper who sold everything cheap cigarettes boxes of mathes carved wooden toys and brilliantly colored pictures of events
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of living. Inflation however affects many thing one being function of money such as medium of exchange‚ store of value‚ unit of account and standard of deferred payments. Medium of exchange means that any item that is widely acceptable in exchange of goods and services. The existence of a medium allows trade to take place without the need for a joint coincidence of wants. A medium of exchange facilitates economic transactions. As long as the same money is going to be accepted as payment‚ inflation
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Teenagers do not know how to manage money According to a recent investigation and study‚ 87% of American teenagers do not know how to manage money. In Shanghai‚ China‚ 92.8% of middle schooler also have poor financial management skills; they rarely consider saving money in the bank or do any investment. So‚ what caused this phenomenon? In my opinion‚ it should be: teenagers was never taught how to manage their money. It’s also because they do not know how difficult it is to earn money
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How inflation affects the functions of money? Inflation alludes to a sustained general rise in the prices of goods and services. In other words‚ it means a rise in the level of cost of living. Money is anything that is generally acceptable by the society for the exchange of goods and services. There are different functions of money such as: To act as a medium of exchange –Money is used to trade in goods and services both internally and externally. In this way money eases the exchange of goods within
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