Unit 4
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Money has evolved from commodity money like coins to more abstract forms like fiat currency. Banks emerged to provide safekeeping of money and lending. The US banking system transitioned from state-chartered banks to the establishment of the Federal Reserve System in 1913, which centralized banking and provided stability. Banking is now highly regulated to prevent crises like the Savings and Loan crisis of the 1980s.
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2) Banks play an important role in modern economies by accepting deposits, issuing loans, and facilitating transactions, though they are also susceptible to failures and panics without regulation and insurance.
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I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
Instagram : arguni.hasnain
Facebook: arguni.hasnain
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I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
Instagram : arguni.hasnain
Facebook: arguni.hasnain
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- Qualities of good money and the demand for money for transaction, precautionary, and speculative motives.
- Differences between money and capital, and forms of money like coins, banknotes, and deposits.
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This document provides an overview of money and banking topics including:
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Money serves three main functions - as a store of value, medium of exchange, and unit of account. There are two main types of money - commodity money, which has intrinsic value like gold, and fiat money, which has no intrinsic value but is declared legal tender by a government institution. Fiat money allows central banks like the Federal Reserve to control the money supply more easily than commodity money. The Federal Reserve has developed different measures of the money supply, from M0 which only includes physical currency, to broader measures like M1 and M2 that include checkable deposits and savings. Controlling the money supply is a key tool of monetary policy.
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I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
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Facebook: arguni.hasnain
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THE EVOLUTION OF MONEY
What will money look like in the next 20 years?
What is the major driver of the evolution of money?
This article may answer some of these questions.
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I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
Instagram : arguni.hasnain
Facebook: arguni.hasnain
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- U.S. bills contain identifying numbers and letters to help track printing errors and authenticate currency.
- The $20 bill is the most counterfeited U.S. denomination, while the $100 bill is most counterfeited overseas.
- Damaged currency can be redeemed by the U.S. Treasury if over 51% of the bill is intact.
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Money Banking and Central Banking
This chapter discusses money, banking, and central banking. It will cover the functions of money, how banks facilitate financial intermediation, and the role of the Federal Reserve System in the US financial system. The chapter outlines that it will define what money is, explain why banks exist, describe the basic structure of the Federal Reserve, and discuss the major functions of the Federal Reserve.
ct
This circuit diagram shows a ferrite core current transformer (CT) with a 450 turn winding connected to measure the current from a 120V, 1 phase 60Hz AC line powering a 50Ω load. The variac is used to adjust the voltage to the load and the CT is required to measure a minimum current of 1.54A through the load.
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This document provides an overview of money and banking topics including:
The functions of money as a medium of exchange, measure of value, and method of storing wealth. It defines different measures of the money supply from M1 to M3. It also discusses monetary standards, financial institutions like commercial banks, and the role of the Federal Reserve System in the US.
Lec12
Money serves three main functions - as a store of value, medium of exchange, and unit of account. There are two main types of money - commodity money, which has intrinsic value like gold, and fiat money, which has no intrinsic value but is declared legal tender by a government institution. Fiat money allows central banks like the Federal Reserve to control the money supply more easily than commodity money. The Federal Reserve has developed different measures of the money supply, from M0 which only includes physical currency, to broader measures like M1 and M2 that include checkable deposits and savings. Controlling the money supply is a key tool of monetary policy.
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I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
Instagram : arguni.hasnain
Facebook: arguni.hasnain
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The document discusses different types of money throughout history. Commodity money derives its value from the underlying commodity like gold, while fiat money is backed by government decree rather than a physical good. Characteristics of good forms of money include durability, portability, divisibility, and recognizability. As payment systems evolved, paper money and checks replaced coins for many transactions, though checks are typically used just once while currency continues circulating. Since 1971, most currencies are fiat and not convertible to commodities, relying instead on trust between individuals.
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This document classifies and describes different types of money. It discusses two main classifications: 1) Full-bodied money, which is money that has commodity value, like coins made of gold or silver. 2) Representative full-bodied money, which is usually paper money that represents and can be exchanged for coins or bullion, acting as a circulating warehouse receipt. It also provides an example classification of the different types of money issued in the Philippines, including standard money, representative money, convertible representative money, fiat money in old and new concepts, token coins, and credit money.
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this presentation contains all about evolution of money or cbse book of economics chapter: evolution of money
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What will money look like in the next 20 years?
What is the major driver of the evolution of money?
This article may answer some of these questions.
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I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
Instagram : arguni.hasnain
Facebook: arguni.hasnain
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The document then examines different types of money such as commodity money, metallic money, paper money, bank credit, and electronic money. It also outlines the key functions of money as a medium of exchange, unit of value, standard for deferred payments, store of value, and basis for the credit system. Finally, the document
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This document provides an overview of money and its functions. It defines money and outlines its main functions, which include being a medium of exchange, measure of value, store of wealth, and enabling future payments and economic activities. The document also discusses the evolution of money from commodity to metallic to paper to electronic forms. It lists the key qualities of good money, such as acceptability, transferability, stability, and divisibility. Finally, it describes the barriers of the barter system and highlights the important role money plays in daily life and the economy.
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Paper money refers to documents that represent money such as banknotes, bills of exchange, and postal orders. There are three types of paper money: representative paper money which is fully backed by metal reserves, convertible paper money which can be converted to coins on demand, and fiat paper money which is not redeemable for gold or silver but is accepted as legal tender.
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What is money
This document defines money and discusses its evolution. It provides three common definitions of money: descriptive, legal, and general acceptability. Money is defined as anything generally accepted as payment. Wealth includes physical and financial assets without a time component, while income is the output from wealth over a specific period. The stages of money's development included commodity money in barter systems, metallic coinage, paper currency, credit/bank money in the form of checks, and now electronic banking transfers using cards.
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This document discusses money supply and the banking system. It defines different measures of money supply (M1, M2, M3, M4) and explains how money is created through the banking system. Banks act as intermediaries that accept deposits and create money through lending. This expands the money supply through the money multiplier process. The money supply is determined by factors like public behavior, commercial bank behavior, and central bank influence. The money market reaches equilibrium where the demand for money equals the supply.
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Money serves several essential economic functions according to the document. It acts as a medium of exchange, replacing bartering, allowing goods and services to be traded. Money also serves as a unit of account, allowing prices of goods and services to be denominated in a standard unit. Additionally, money acts as a store of value, allowing purchasing power to be saved and transferred over time. The document discusses different definitions and classifications of money, including definitions based on what constitutes money, whether it is currency in circulation or includes other assets, and classifications based on the nature and legality of various forms of money.
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The document discusses various topics related to money and banking in the United States, including:
- There is $665 billion in U.S. currency in circulation and $37 million in new notes are printed each day.
- U.S. bills contain identifying numbers and letters to help track printing errors and authenticate currency.
- The $20 bill is the most counterfeited U.S. denomination, while the $100 bill is most counterfeited overseas.
- Damaged currency can be redeemed by the U.S. Treasury if over 51% of the bill is intact.
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The document discusses money and near money. It defines money as anything that is generally acceptable as a means of exchange, measure of value, and store of value. There are three types of money: metallic, paper, and credit money. Near money refers to assets that have high liquidity and can be converted to money, such as bills of exchange, bonds, debentures, and shares. Near money differs from money in that it is not directly used in transactions and must be converted first. The degree of liquidity, or ease of conversion to cash, determines how near an asset is to being money. A monetary economy uses money as a medium of exchange, whereas a barter economy exchanges goods directly without money.
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Taxes allow governments to provide goods and services by generating revenue. The US Constitution grants Congress the power to collect taxes to fund the common defense and general welfare. Federal taxes must be uniform across states and exempt religious activities. Taxes include income, sales, property and corporate taxes. Governments use tax revenue along with borrowing to fund expenditures through annual budgets. Fiscal policy aims to influence economic growth through taxing and spending decisions.
2. money and banking
The document discusses money and banking systems. It defines money and describes the functions of money. It explains the different components that make up the money supply, including M-1 and M-2. It discusses various financial institutions like commercial banks and what services they provide. It then focuses on the financial system and central bank of Pakistan, the State Bank of Pakistan, outlining its roles and responsibilities, including overseeing monetary policy and using tools like reserve requirements, discount rates, and open market operations. It concludes by briefly defining the World Bank and International Monetary Fund.
Money stock determinants high powered money and money multiplier
This document discusses money stock determinants and the role of high powered money and the money multiplier in determining money supply. It provides context on the history of studying money supply and reviews different models that have been used. The framework of expressing money stock as the product of high powered money and the money multiplier is described. It is noted that the money multiplier is not a purely mechanical process but reflects various economic decisions. The document aims to calculate the value of the money multiplier and the contribution of high powered money to money supply in India from 1980-81 to 2011-12.
Money and supply ,types of money
The document discusses the emergence and evolution of money. It begins by outlining the drawbacks of barter systems that led to the development of money. It then defines money and discusses its primary and secondary functions. The document also summarizes Keynes' theory of demand for money, which is comprised of transaction, precautionary, and speculative motives. It introduces concepts like liquidity preference, liquidity traps, and different measures of money supply such as M1, M2, M3, and M4. Finally, it discusses narrow and broad definitions of money.
The myth of sisyphus
The document summarizes the Greek myth of Sisyphus and discusses Albert Camus' philosophical essay "The Myth of Sisyphus". According to the myth, Sisyphus is condemned in the underworld to eternally roll a boulder up a mountain, only for it to roll back down when he reaches the top. Camus uses Sisyphus as an example of the "absurd hero" who faces an absurd and meaningless fate with lucidity and defiance. The essay analyzes Camus' perspective that by imagining Sisyphus happy in his task, one can find meaning in life despite its inherent absurdity.
Alfaisal Bank
Al-Faysal Investment Bank is Pakistan's largest investment bank with paid up capital of Rs.978.7 million and total equity of over Rs. 24.5 billion. It is part of the Dar Al Maal Al Islami Group, an international network of Islamic financial institutions. Al-Faysal Investment Bank provides a range of corporate finance and advisory services and has played a leading role in major infrastructure projects in Pakistan. The bank has a presence across Pakistan with offices in Karachi, Lahore, and Islamabad and employs over 100 staff across various departments.
Prez moneysupplycycle
Affect of Money supply on inflation and GDP.................how our GDP and inflation vary with our Indian economy going up or down...................know thru did prez.........
Money Supply
The document discusses the U.S. money supply and its components. It states that money consists of currency, checkable deposits, and similar deposit accounts held by the non-bank public. Approximately 60% of the money supply is made up of checkable deposits. The Federal Reserve uses three definitions of money supply - M1, M2, and M3. M1 includes currency and checkable deposits, while M2 adds other savings deposits and money market funds, making it about three times larger than M1. M3 has an even broader definition that incorporates additional assets.
Control of money supply
The document discusses how central banks use monetary policy tools to control money supply. It introduces money supply and how excess or tight money supply can impact economic growth. It then discusses three main tools for controlling money supply: open market operations, required reserve ratios, and discount/bank rates. Open market operations involve a central bank buying and selling bonds to increase or decrease money supply. Required reserve ratios set the percentage of deposits commercial banks must hold in reserves. Discount/bank rates affect how much commercial banks pay to borrow from the central bank. Open market operations are considered the most preferable tool because they are flexible, reversible, and quickly implemented.
MACRO ECONOMICS : MONEY SUPPLY AND FUTURE TRENDS
Latest developments in money supply after demonetisation and what are the expected future trends in money supply.
money and banking ajahar husai NDIM
The document provides an overview of money and banking topics including:
- Definitions of money, its functions, types, and measurements.
- Characteristics of money including durability, portability, divisibility, and limited supply.
- Key terms related to banking such as national banks, bank runs, and central banks.
- The history of banking including the first and second Banks of the United States.
- The roles and types of banks including commercial, private, savings, and cooperative banks.
- The banking structure in India including the State Bank of India, nationalized banks, and regional rural banks.
Supply of Money
The money supply is the total stock of money available in an economy at a given time and can be defined in different ways. The monetary base (M0) comprises cash in circulation and central bank reserves. Narrow money (M1) includes M0 as well as checkable deposits and some savings. Broad money (M2) contains M1 plus long-term savings deposits, capturing money fulfilling both medium of exchange and store of value functions.
Future of Money, Banking & Payment Industry (it-Cafe.ir)
از «اپل پی» تا بیتکوین، از پرداختهای همتا به همتا تا حجم بسیار بالای رمیتنس در جهان، از انبوهی استارتآپهای متنوع در صنعت پرداخت و بانکداری تا نفوذ عجیب پرداختهای موبایلی در کشورهای توسعه نیافته نظیر کنیا، همه روزه شاهد اخبار متنوع و البته رشد بی سابقهای از حضور و و نفوذ فناوری در این صنعت هستیم. نکته جالب اینکه بخش عمدهای از کسانی که احتمالاً آینده پول و صنعت پرداخت را رقم خواهند زد، شرکتها فناور نظیر اپل، سامسونگ و یا گوکل هستند که هیچ تجربه بانکی و سابقهای در این بخش ندارند و کمتر اسم بانکها را در این جریان میشنویم. براستی چه اتفاقی در حال رخ دادن است.
در این ارائه با عنوان «آینده پول، صنعت پرداخت و بانکداری» روندهای فناوری اثرگذار بر پول و صنایع پرداخت را بررسی کرده و آینده و جایگاه بازیگران فعلی و البته نوع نگرش به پول را بررسی خواهیم نمود.
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Money stock determinants high powered money and money multiplier
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Money serves three main purposes: as a medium of exchange, a unit of account, and a store of value. The United States has experienced various forms of money throughout its history including commodity money, representative money, and currently fiat money controlled by the Federal Reserve. The American banking system has also evolved over time from early distrust of banks to the establishment of the Federal Reserve System in 1913 to address financial panics and reforms after the Great Depression and Savings and Loan crisis. Today's banking system provides various services electronically and through financial institutions that operate under a fractional reserve system and earn profits through interest.
The history of the american bank
The document discusses the history of banking in America before and after the Civil War. [1] Before the Civil War, banks were informal businesses run by merchants that were not always stable if the merchant failed. [2] After the Revolution, leaders agreed a stable banking system was needed to support trade, but there were two opposing views - Federalists supported a centralized system while Antifederalists wanted state control. [3] The First Bank of the U.S. was established but its charter expired in 1811, leading to instability until the National Banking Acts after the Civil War established federal control over banking.
US Economic Outlook 2008-11+ (Updated)
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Economic Outlook 2008
The document summarizes the US economic outlook from 2008 to 2011. It discusses several factors that contributed to the housing bubble and current economic crisis, including loose monetary policy, the use of adjustable rate mortgages, and the securitization of subprime loans. It predicts a long recovery for the housing market, a doubling of the money supply leading to high inflation, and potentially major problems for the US dollar if other nations drop it as their reserve currency or demand higher prices for oil. The key recommendations are to get out of debt, save money, and potentially buy gold as a hedge against inflation and a falling dollar.
US Economic Outlook 2008-11+
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Federal Reserve System
The Federal Reserve System is the central banking system of the United States. It was established in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system. The Federal Reserve System has a decentralized structure, with the Board of Governors setting monetary policy, 12 regional Federal Reserve Banks carrying out operations, and commercial banks holding stock in the regional banks. The Federal Reserve serves as the nation's central bank, regulating the money supply and overseeing the banking system to promote financial stability and moderate long-term growth.
EFC - Oz Leadership In Current Times 2
The document discusses Frank Baum's allegorical work "The Wonderful Wizard of Oz" and its portrayal of economic issues in late 19th century America. It analyzes the characters and symbols used as representations of different factions in the monetary policy debates around bimetallism, greenbacks, and fractional reserve banking. The document also examines court cases and proposed solutions regarding the practice of fractional reserve banking and whether banks should be allowed to loan out money they don't fully have in reserves.
Money Power (Part 2)
This document summarizes concerns about the influence of private banks and financiers over monetary systems and the global economy. It discusses how a small number of powerful banks control central banks and influence economic conditions for profit. There are concerns this money power exerts undue political influence and prioritizes profit over public welfare. The document traces the evolution of monetary systems from the gold standard to fiat currencies and petrodollars, giving private banks increasing power to create money and profit from interest.
Money and the global debt crisis
The document discusses the history of banking and money creation in the United States. It explains that:
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3) This system means that debt levels have risen dramatically, contributing to financial crises when too much debt exists relative to income. The housing crisis starting in 2007 is analyzed as an example.
Unit 4 – finance and labor
The document provides an overview of the history and key concepts of finance and banking in the United States. It covers the origins and uses of money, the development of currency and early banking systems, the creation of the Federal Reserve System in response to banking crises, and modern aspects of money supply, banking services, financial institutions, investments, and stock markets.
Unit 6 – finance
The document provides an overview of the history and key concepts of finance and banking in the United States, including:
1) It describes the origins and purposes of money, different types of currencies, and the characteristics of an effective currency.
2) It outlines the development of the American banking system from the early national banks through periods of instability, and the eventual creation of the Federal Reserve System in 1913 to oversee monetary policy and regulate banks.
3) It discusses modern banking practices like money supply, managing accounts, providing loans, and the roles of other financial institutions.
A Short History of Banking SYSTEM PPT.ppt
Power of Personal Appearance
Image management is the ongoing process of evaluating and controlling the impact of your appearance and the resulting response on you and others.
The concept of image management applies to anyone who has ever needed to improve self-image, self-esteem, self-confidence, capability and credibility. It applies to anyone who has ever wanted to get an idea across to someone else, to influence opinion or action is it in the home, school, church, community or business setting. It is creating an authentic, appropriate, attractive, and affordable image. Intelligence, knowledge, ability, initiative, and effort are vital to success of any kind, but regardless of whom you are, how old, and what your role or goal, ongoing image management can give you the personal/professional presence you need.
As an individual living and working in a highly complex and competitive society, you must recognize and understand the impact of your appearance as it communicates first to you and then to others. What you wear and the way you look affects:
1. The Way You Think
You can’t afford to think negatively about yourself due to some aspect of your appearance. When you appear authentic, attractive, and appropriate, you think more positively about yourself, your situation, and others.
2. The Way You Feel
You can’t afford to feel depressed, unproductive, uncomfortable, antagonistic, argumentative, self-conscious, inferior, or full of self-doubt. A positive personal appearance is a fast, effective way to boost self-confidence and overcome anxiety regarding ability or acceptance. When you appear attractively dressed and groomed, personally authentic, and appropriate for the occasion, you feel more comfortable, confident, capable, cooperative and productive.
3. The Way You Act or Behave
You can’t afford to act awkward, insecure, submissive, out-of-place, or out-of-order. Nor can you afford to act defensive, arrogant, aggressive, affected, superior, or conceited. A positive personal appearance is one of the most effective ways to improve behavior and enhance performance level or productivity. When you appear attractively dressed and groomed, personally authentic, and appropriate for the occasion, you act more secure, at ease, mannerly, competent, and naturally able to do your best.
4. The Way Others React and Respond to You
Your appearance is the one personal characteristic that is immediately obvious and accessible to others. You can’t hide it. Your appearance makes a strong statement about your personality, values, attitudes, interests, knowledge, abilities, roles, and goals. You can’t afford to be seen as disrespectful, antagonistic, affected, scatterbrained, irresponsible, ineffective, or unproductive. You can’t afford to create a negative impression or to build barriers between you and others because of unattractive, inappropriate, distracting, or offensive appearance.
When you appear attractively dressed and groomed, personally authentic, and ap
History of money used for talks at Bhaubali College of Engg., Shravanabealgola
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Evolution of Banking Services.pptx
Banking services have evolved significantly over the centuries. Originally, temples served as safe places to store wealth and lend money. Over time, banking became a more formalized institution, with banks emerging independently of temples in places like Rome and Greece. In modern history, banking became more widespread and accessible through the establishment of national banks, though traditional merchant banks held significant power for some time. The creation of the Federal Reserve in 1913 marked a major change in centralized banking in the United States.
Unit 6 finance academic FSAEU6
This document provides an overview of currency and the monetary system in the United States. It discusses the functions and characteristics of money, the development of the banking system and currency over time, and the creation of the Federal Reserve System in 1914 to serve as the central bank and oversee monetary policy. Key topics covered include the gold standard, the money multiplier effect of fractional-reserve banking, and the Federal Reserve's tools of conducting open market operations and setting reserve requirements and interest rates to influence the money supply.
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Resume Manajemen Keuangan.pdf
The document provides an overview of the evolution of the international monetary system. It discusses how the system operated under a gold standard prior to World War I, with currencies convertible to gold at fixed exchange rates. During World War I through World War II, countries went off and attempted to return to the gold standard. The Bretton Woods system after World War II established fixed exchange rates and the IMF to monitor currencies. The system broke down in the 1970s and was replaced by a floating exchange rate system.
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Unit 4
- 29. The Civil War and Post Civil War Era
- 83. Bonds and Other Financial Assets