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Money and banking

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  • 1. Money and Banking Economics Section 2
  • 2. 3 Uses of Money
    • Money=anything that serves as a medium of exchange
    • Medium of Exchange=anything that is used to determine value during the exchange of goods and services
  • 3. What is Barter?!
    • Barter=the direct exchange of one set of goods or services for another
    • Traditional Economies!
    • Do we use Barter in the U.S.?!
  • 4. Money as a Unit of Account
    • Money provides a means for comparing the values of goods and services.
    • You can compare the cost with other stores
    • Price is always expressed the same….in $’s!
  • 5. Money as a Store of Value
    • Money keeps its value if you decide to hold on to/store it.
    • Our $ will keep its value and be recognized as a medium of exchange
    • Inflation can have an effect however!
  • 6. Review
    • 3 Uses of Money:
      • Medium of Exchange
      • Unit of Account
      • Store of Value
  • 7. The Six Characteristics of Money!
    • Durability
    • Portability
    • Divisibility
    • Uniformity
    • Limited Supply
    • Acceptability
  • 8. Assignment
    • Vocabulary Builder
      • Using the key terms of Chapter 10 Sec. 1, read and record the definitions.
      • Using newspapers/magazines/internet, etc, find an image depicting the meaning of each term.
      • Post the terms and images in your notes!