Money & Banking By: Professor Jermaine Whirl For Students of East Georgia College What is Money? Assets that people are generally willing to accept in exchange for goods and services or for payment of debts. Assets: Anything of value owned by a person or firm. Where did money come from?
By: Professor Jermaine Whirl
For Students of East Georgia College
Divisibility- means money can be divided into small increments that can be used in exchange for goods of varying values
Transportability- means that money can be easily moved from one location to another when such movement is needed to complete exchanges.
Non-Counterfeiting- means that money cannot be easily duplicated. A given item cannot function as a medium of exchange if everyone is able to "print up," "whip up," or "make up" a batch of money any time that they want.Money Characteristics