BUSN 101 Lecture Notes - Lecture 10: Money Market Fund, Financial Institution, Microsoft Money
30 Sep 2018
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Document Summary
Critical issues: economic growth and the creation of jobs, depend on the ready availability of money. Money: anything people generally accept as payment for goods and services. Barter: direct trading of goods or services for other goods or services. Barter exchange: you can put goods or services into the system and get trade credits for other goods and services that you need. 5 standards for a useful form of money. Portability: coins and paper money are easy to carry around. Divisibility: diff size coins/ bills represent diff values. Stability: when everybody agrees on the value of coins, the value of money is relatively stable. Us $ has become so stable that much of the world has used the us dollar as the measure of value. Durability: coins last for a very long time. Uniqueness: it"s hard to counterfeit elaborately designed and minted coins, govt prints money thats identifiable & hard to replicate.
