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Money, Banking, the Fed & Taxes

Money, Banking, the Fed & Taxes. Chaps. 13, 14, and 15. Functions of Money Visual. Functions of Money. “Money is What Money Does” Medium of Exchange – easily, recognizable Measure of Value – How we measure value of everything in our society

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Money, Banking, the Fed & Taxes

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  1. Money, Banking, the Fed & Taxes Chaps. 13, 14, and 15

  2. Functions of Money Visual

  3. Functions of Money “Money is What Money Does” • Medium of Exchange – easily, recognizable • Measure of Value – How we measure value of everything in our society • Store of value – has to hold value from time it is received to time it is spent

  4. Early Money • First, there was barter • Next came commodity money like cattle, tobacco, salt or something representing them. • Next came non-precious metals

  5. History of Money • Money based on precious metals like gold and silver were next • Eventually, paper money evolved

  6. History of Money • Finally, credit cards and electronic forms of payment are developed

  7. Video Clip on the History of Money

  8. Interactive Link for new $5 bill

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