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Notes- Role of Money

Notes- Role of Money. Standard SSEMI1b- Explain the role of money as a medium of exchange. What is money? . Money is any substance that serves as a medium of exchange, store of value, or measure of value. It must also be accepted by everyone in a society.

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Notes- Role of Money

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  1. Notes- Role of Money Standard SSEMI1b- Explain the role of money as a medium of exchange

  2. What is money? • Money is any substance that serves as a medium of exchange, store of value, or measure of value. • It must also be accepted by everyone in a society. • We use fiat money- money issued by government decree.

  3. Roles of Money

  4. Roles of Money • Medium of Exchange: An item that can be traded for another good or service. • Measure of Value: a common denominator that can be used to express worth • Store of Value: allows purchasing power to be used over time

  5. Characteristics of money • To be a successful medium of exchange money must be portable, durable, divisible, and limited in supply.

  6. Characteristics of money

  7. Role of money • Money advances the exchange of goods and services. • People directly get what they need instead of waiting to barter.

  8. Money a History • Barter- exchange of resources for mutual advantage

  9. Money- A Modern History

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