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CH2-Money

CH2-Money. HK Certificate of Education Examination. The Barter Economy. In a barter economy, without money, one good was directly exchanged for another. Problems/Disadvantages of Barter: lack of double coincidence of wants very costly to find trading partners

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Lecture 2: Measuring Money

Lecture 2: Measuring Money. The functions of money. The functions money serves: medium of exchange. unit of account. store of value. std. of deferred value. To be money, the object must serve as a final means of payment and redeemable on demand at face value.

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Money substitutes - PowerPoint PPT Presentation

CH2-Money

Lecture 2: Measuring Money

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