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Functions of money | Financial sector | AP Macroeconomics | Khan Academy
 
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What does money actually do? Economists usually subdivide its functions into three categories: A medium of exchange, a store of value, and a unit of value. Created by Grant Sanderson. View more lessons or practice this subject at http://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/ap-financial-sector/definition-measurement-and-functions-of-money-ap/v/functions-of-money?utm_source=youtube&utm_medium=desc&utm_campaign=apmacroeconomics AP Macroeconomics on Khan Academy: Welcome to Economics! In this lesson we'll define Economic and introduce some of the fundamental tools and perspectives economists use to understand the world around us! Khan Academy is a nonprofit organization with the mission of providing a free, world-class education for anyone, anywhere. We offer quizzes, questions, instructional videos, and articles on a range of academic subjects, including math, biology, chemistry, physics, history, economics, finance, grammar, preschool learning, and more. We provide teachers with tools and data so they can help their students develop the skills, habits, and mindsets for success in school and beyond. Khan Academy has been translated into dozens of languages, and 15 million people around the globe learn on Khan Academy every month. As a 501(c)(3) nonprofit organization, we would love your help! Donate or volunteer today! Donate here: https://www.khanacademy.org/donate?utm_source=youtube&utm_medium=desc Volunteer here: https://www.khanacademy.org/contribute?utm_source=youtube&utm_medium=desc
Views: 45111 Khan Academy
What is MEDIUM OF EXCHANGE? What does MEDIUM EXCHANGE mean? MEDIUM OF EXCHANGE meaning
 
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What is MEDIUM OF EXCHANGE? What does MEDIUM EXCHANGE mean? MEDIUM OF EXCHANGE meaning - MEDIUM OF EXCHANGE definition - MEDIUM OF EXCHANGE explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. A medium of exchange is an intermediary used in trade to avoid the inconveniences of a pure barter system. By contrast, as Othien James Jevons argued, in a barter system there must be a coincidence of wants before two people can trade – one must want exactly what the other has to offer, when and where it is offered, so that the exchange can occur. A medium of exchange permits the value of goods to be assessed and rendered in terms of the intermediary, most often, a form of money widely accepted to buy any other good. Fiat currencies are the generally accepted mediums of exchange. Their most important and essential function is to provide a 'measure of value'... Hifzur Rab has shown that the market measures or sets the real value of various goods and services using the medium of exchange as unit of measure i.e., standard or the yard stick of measurement of wealth. There is no other alternative to the mechanism used by the market to set, determine, or measure the value of various goods and services. Determination of price is an essential condition for justice in exchange, efficient allocation of resources, economic growth, welfare and justice. The most important and essential function of a medium of exchange is to be widely acceptable and have relatively stable purchasing power (real value). Therefore, it should possess the following characteristics: 1. Value common assets; 2. Common and accessible; 3. Constant utility; 4. Low cost of preservation; 5. Transportability; 6. Divisibility; 7. High market value in relation to volume and weight; 8. Recognisability; and 9. Resistance to counterfeiting. To serve as a measure of value, a medium of exchange, be it a good or signal, needs to have constant inherent value of its own or it must be firmly linked to a definite basket of goods and services. It should have constant intrinsic value and stable purchasing power. Gold was long popular as a medium of exchange and store of value because it was inert, was convenient to move due to even small amounts of gold having considerable value, and had a constant value due to its special physical and chemical properties. Critics of the prevailing system of fiat money argue that fiat money is the root cause of the continuum of economic crises, since it leads to the dominance of fraud, corruption, and manipulation precisely because it does not satisfy the criteria for a medium of exchange cited above. Specifically, prevailing fiat money is free floating and depending upon its supply market finds or sets a value to it that continues to change as the supply of money is changed with respect to the economy's demand. Increasing free floating money supply with respect to needs of the economy reduces the quantity of the basket of the goods and services to which it is linked by the market and that provides it purchasing power. Thus it is not a unit or standard measure of wealth and its manipulation impedes the market mechanism by that it sets/determine just prices. That leads us to a situation where no value-related economic data is just or reliable. On the other hand, Chartalists claim that the ability to manipulate the value of fiat money is an advantage, in that fiscal stimulus is more easily available in times of economic crisis.
Views: 1352 The Audiopedia
Money and Finance: Crash Course Economics #11
 
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So, we've been putting off a kind of basic question here. What is money? What is currency? How are the two different. Well, not to give away too much, but money has a few basic functions. It acts as a store of value, a medium of exchange, and as a unit of account. Money isn't just bills and coins. It can be anything that meets these three criteria. In US prisons, apparently, pouches of Mackerel are currency. Yes, mackerel the fish. Paper and coins work as money because they're backed by the government, which is an advantage over mackerel. So, once you've got money, you need finance. We'll talk about borrowing, lending, interest, and stocks and bonds. Also, this episode features a giant zucchini, which Adriene grew in her garden. So that's cool. Special thanks to Dave Hunt for permission to use his PiPhone video. this guy really did make an artisanal smartphone! https://www.youtube.com/watch?v=8eaiNsFhtI8 Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Fatima Iqbal, Penelope Flagg, Eugenia Karlson, Alex S, Jirat, Tim Curwick, Christy Huddleston, Eric Kitchen, Moritz Schmidt, Today I Found Out, Avi Yashchin, Chris Peters, Eric Knight, Jacob Ash, Simun Niclasen, Jan Schmid, Elliot Beter, Sandra Aft, SR Foxley, Ian Dundore, Daniel Baulig, Jason A Saslow, Robert Kunz, Jessica Wode, Steve Marshall, Anna-Ester Volozh, Christian, Caleb Weeks, Jeffrey Thompson, James Craver, and Markus Persson -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 683191 CrashCourse
Farrakhan Says GOLD Will Be The New Medium Of Exchange
 
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CLICK HERE = http://secureyourfamilysfuture.com ... TO PROTECT YOUR MONEY. for more detailed info. Gold is money and money is a currency. Thus gold is a form of currency, its acceptance in 194 countries, is of this world. Many people know the importance and hedging of treasury assets in gold in recent decades has been lost. Without gold, there would be no money, because when they started to trade in gold, it was deposited in banks and evidence was obtained as a receipt for the amount of the stock. These were the first unofficial banknotes of the world. The trading of bank notes was thus born, and quickly recognized banks, such that gold deposited banknotes were playing an increasingly important role in society, and soon led the first official notes have been deposited with the gold one. Today, the world has no more money, whose value is backed by gold. Thus, paper money is only one currency that has no real value. The gold standard corresponded to the beginning of the 20th Century 1.504632 gram of gold = $ 1. Due to the compounding effect has been the gold standard in the coming years, after the introduction, is constantly changing and in 1971 abolished entirely. Top reasons to buy gold, are: 1. Gold offers protection against inflation and currency reform 2. Gold bars are global cash 3. Gold is in crisis times, a stable investment 4. Gold is and will remain unimpaired, as the limited resources and are not reproducible 5. Global demand for gold is higher than supply 6. The purchase and sale of investment gold is exempt from VAT Thus, gold is the security for you and your family and should exist in every household as capital protection.
Views: 3934 DO4SELF ONLINE
Money as a Medium of Exchange | 10th Std | Economics | CBSE | Home Revise
 
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Our content consists of the entire 10th standard syllabus in a fun learning method with various sounds and animations. It is as per the current syllabus and helps explain each chapter in detail. This makes the learning very easy and entertaining. Visit us: https://goo.gl/HtmKZt About Home Revise: Home Revise provides the content of CBSE / State Board syllabus in a digital, multimedia form which makes study easy, interesting, enjoyable & memorable. #StudyHasBecomeEasyNow #Economics #Education Subscribe to Home Revise: https://www.youtube.com/user/homerevise1 Follow us on Twitter: https://twitter.com/homerevise21 Follow us on Linked in: https://www.linkedin.com/company/home-revise-education-pvt.ltd
Views: 824 Home Revise
Medium of Exchange (MOE) Tokens - Why They Suck (and How They Can Suck Less)
 
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➜ Coin Crunch Mastermind Group: https://www.facebook.com/groups/coinc... ➜ Our telegram channel: https://t.me/coincrunch ➜ Coin Crunch Announcements Channel - https://t.me/coincrunchannoucements ➜ ICO updates - https://coincrunch.io "What's wrong with an very useful dApp?" ...is the question that led to this video. Endor (which, at the moment, has all the hallmarks of being a very useful dApp). There's no problem with being a useful dApp, it's just that from an investment perspective there's an issue with medium of exchange "utility" tokens having an equilibrium value close to 0 (no incentive to hold the token for any amount of time, as it is not a store of value, low friction, causes high velocity, devalues the token). Sources: - https://medium.com/blockchannel/on-value-velocity-and-monetary-theory-a-new-approach-to-cryptoasset-valuations-32c9b22e3b6f - https://vitalik.ca/general/2017/10/17/moe.html - https://medium.com/@kylesamani/new-models-for-utility-tokens-d26c12ec00c5 - https://twitter.com/twobitidiot/status/941719461710704640 - https://twitter.com/twobitidiot/status/951168783296712704 - https://medium.com/tbis-weekly-bits/skin-in-the-game-coins-da0afdfdc650 Find us online: Steemit: https://steemit.com/@coincrunch Twitter: https://twitter.com/realcoincrunch Facebook: https://www.facebook.com/realcoincrunch
Views: 2352 Coin Crunch
Medium of exchange
 
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Medium of exchange A medium of exchange is an intermediary used in trade to avoid the inconveniences of a pure barter system By contrast, as Othien James Jevons argued, in a barter system there must be a coincidence of wants before two people can trade – one must want exactly what the other has to offer, when and where it is offered, so that the exchange can occur A medium of exchange permits the value of goods to be assessed and rendered in terms of the intermediary, most often, a form of money widely accepted to buy any other good Contents 1 Definition 2 Requisites needed 3 Bibliography 4 See also 5 References 6 External links Definition Fiat currencies are the generally accepted mediums of exchange Their most important and essential function is to provide a measure of value12 Hifzur Rab has shown that the market measures or sets the real value of various goods and services using the medium of exchange as unit of measure ie, standard or the yard stick of measurement of wealth There is no other alternative to the mechanism used by the market to set, determine, or measure the value of var Medium of exchange Click for more; https://www.turkaramamotoru.com/en/medium-of-exchange-27141.html There are excerpts from wikipedia on this article and video
Views: 2 Search Engine
Money and Purchasing Power
 
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Our dollar is a medium of exchange and a standard of value, but what about its purchasing power? http://www.LibertyPen.com
Views: 8768 LibertyPen
Functions of money
 
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In this video tutorial you will learn the functions of money. There are five basic functions of money. These functions include money as medium of exchange, unit of account (measure of value), money as store of value, money as transfer of value and money as standard of deferred of payments. For more tutorials subscribe to economics guider.
Views: 2236 Economics Guider
What Is Money? (1947)
 
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What Is Money? (1947) Following journey of five dollar bill thru many transactions, film shows how money functions as standard of value, standard for future payment, storehouse of value & convenient medium of exchange for goods or services. To help with the A/V Geeks mission to share these forgotten films unearthed in their archive, this film and hundreds of others can be purchased on DVD (http://www.avgeeks.com/wp2/all-av-geeks-dvds/). Higher quality versions of this film can also be licensed for stock footage. Contact [email protected] for more information.
Views: 215 A/V Geeks
PRIMARY FUNCTIONS OF MONEY
 
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PRIMARY FUNCTIONS/MAIN FUNCTIONS/BASIC FUNCTIONS/FUNDAMENTAL FUNCTIONS MEDIUM OF EXCHANGE The difficulty with a barter system is that in order to obtain a particular good or service from a supplier, one has to possess a good or service of equal value, which the supplier also desires. In other words, in a barter system, exchange can take place only if there is a double coincidence of wants between two transacting parties. The likelihood of a double coincidence of wants, however, is small and makes the exchange of goods and services rather difficult. Money effectively eliminates the double coincidence of wants problem by serving as a medium of exchange that is accepted in all transactions, by all parties, regardless of whether they desire each others' goods and services. STANDARD OF VALUE Standard of value is an agreed-upon worth for a transaction in a country's medium of exchange such as the dollar or peso. A standard of value allows all merchants and economic entities to set uniform prices for goods and services. This standard is necessary in order to maintain a stable economy. A standard of value is based on a commodity that is widely known and used, allowing it to serve as a measure for other commodities. For instance, metals such as gold, silver, copper, and bronze have been used across history as forms of currency and standards of value.
Views: 229 aucommerce Scholar
Mind Over Money Documentary
 
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Mind Over Money Documentary Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context, or is easily converted to such a form. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, sometimes, a standard of deferred payment. Any item or verifiable record that fulfills these functions can be considered as money. Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money. Fiat money, like any check or note of debt, is without use value as a physical commodity. It derives its value by being declared by a government to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private".Such laws in practice cause fiat money to acquire the value of any of the goods and services that it may be traded for within the nation that issues it. The money supply of a country consists of currency (banknotes and coins) and, depending on the particular definition used, one or more types of bank money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of broad money in developed countries. Read More; https://en.wikipedia.org/wiki/Money May you find this video informative and be thrilled to subscribe for more. Thanks for watching! Destination Channel https://www.youtube.com/channel/UCM2gsRSdiokLpcTwgFGJBWQ Amazing Architecture https://www.youtube.com/channel/UCp742CN2I0TM4ediPAJrJ1g Marvelous Engineering https://www.youtube.com/channel/UCBXX_DYVJFaJd2nXdyMkWYA Health is Wealth https://www.youtube.com/channel/UCD6he5QLtjOseb3u8Yq2hrA Conspiracy Documentary https://www.youtube.com/channel/UCDedgBFhKaFFSVUwPtVgAEg WildLife Channel https://www.youtube.com/channel/UCaMJSdvVcgb7JO33dQkrLug Transportation Documentaries https://www.youtube.com/channel/UCGXAWeusU8CECfGb05a3_Wg HD Documentaries https://www.youtube.com/channel/UCReUDbXfNmg3jNR3yiGjFTw Conspiracy Documentary Film https://www.youtube.com/channel/UCWbDLtPDOLiWIWybFTzHOBw Best Viral Video https://www.youtube.com/channel/UCjlp4UEuMkLsMmLrHDeCAvA Top 30 Documentary https://www.youtube.com/channel/UCxSUn3lqeTaGPqNe1AiXF1A Most Amazing Documentary https://www.youtube.com/channel/UCMDz4HDVcTwyy2GljOX_d8Q HD Documentary https://www.youtube.com/channel/UCsUoC6DfK_9ffcD9fShg1wQ Epic Top 10 https://www.youtube.com/channel/UCeJSDfS6QXj1aNL4nk9XAhw Awesome People https://www.youtube.com/channel/UCr-LgU5ddtwc-L5gipjIQ9A https://www.youtube.com/channel/UCM2gsRSdiokLpcTwgFGJBWQ https://www.youtube.com/channel/UCp742CN2I0TM4ediPAJrJ1g https://www.youtube.com/channel/UCBXX_DYVJFaJd2nXdyMkWYA https://www.youtube.com/channel/UCD6he5QLtjOseb3u8Yq2hrA https://www.youtube.com/channel/UCDedgBFhKaFFSVUwPtVgAEg https://www.youtube.com/channel/UCaMJSdvVcgb7JO33dQkrLug https://www.youtube.com/channel/UCGXAWeusU8CECfGb05a3_Wg https://www.youtube.com/channel/UCReUDbXfNmg3jNR3yiGjFTw https://www.youtube.com/channel/UCWbDLtPDOLiWIWybFTzHOBw https://www.youtube.com/channel/UCjlp4UEuMkLsMmLrHDeCAvA https://www.youtube.com/channel/UCxSUn3lqeTaGPqNe1AiXF1A https://www.youtube.com/channel/UCMDz4HDVcTwyy2GljOX_d8Q https://www.youtube.com/channel/UCsUoC6DfK_9ffcD9fShg1wQ https://www.youtube.com/channel/UCeJSDfS6QXj1aNL4nk9XAhw https://www.youtube.com/channel/UCr-LgU5ddtwc-L5gipjIQ9A
Views: 5613 Mind Blowing Videos
The History of Paper Money - Origins of Exchange - Extra History - #1
 
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Giant stones sunk under the sea? Cows? Cowrie Shells? What do they all have in common? They were all money. Find out how we got from exchanging these things to doing 8 hours of work for a stack of paper that takes 2 seconds to print on The History of Paper Money. (--More below) Support us on Patreon! http://bit.ly/EHPatreon Grab your Extra Credits gear at the store! http://bit.ly/ExtraStore Subscribe for new episodes every Saturday! http://bit.ly/SubToEC Play games with us on Extra Play! http://bit.ly/WatchEXP Talk to us on Twitter (@ExtraCreditz): http://bit.ly/ECTweet Follow us on Facebook: http://bit.ly/ECFBPage Get our list of recommended games on Steam: http://bit.ly/ECCurator ____________ ♪ Get the intro music here! http://bit.ly/1EQA5N7 *Music by Demetori: http://bit.ly/1AaJG4H ♪ Get the outro music here! http://bit.ly/23isQfx *Music by Sean and Dean Kiner: http://bit.ly/1WdBhnm
Views: 1303799 Extra Credits
Gold: The Medium of Exchange in the Future
 
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The Hon. Minister Louis Farrakhan teaches on how America went off the gold standard, and that the Hon. Elijah Muhammad said that gold will be the medium of exchange in the future. — at Mosque Maryam.
Having A Standard For Money Is As Important As A Standard Weight And Length!!
 
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To make comparisons there has to be a common standard, and money can be used as this. It can be thought of as a common accounting device. Money performs three important functions in society. It is a medium of exchange, a liquid store of value and a standard of value. The analysis and discussion provided by MoneyBags73 is for your education and entertainment purposes only, it is not recommended for trading purposes. I am not an investment adviser and information obtained here should not be taken for professional investment advice. The commentary on MoneyBags73's videos reflect the opinions of MoneyBags73. Your own due diligence is recommended before buying or selling any investments, securities, or precious metals.
Views: 742 MoneyBags73
Four functions of money
 
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Learn about the different functions of money and how money shapes what we do. In this video you will learn about how money functions as: - A medium of exchange - A store of value - A unit of account - A means of deferred payment
Views: 3581 EnhanceTuition
Bitcoin is not a store of value like gold & silver but medium of exchange
 
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http://www.youtube.com/watch?v=KUw6O86SMac&feature=mh_lolz&list=LLU1yUXV8AX10 Bitcoin - A currency revolution? StormCloudsGathering
Views: 711 Alexiscom1
#72, Foreign exchange rate (Class 12 macroeconomics)
 
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Class 12 macroeconomics ..... Foreign exchange rate.... Foreign exchange.... Types of foreign exchange rate ..... Depreciation and appreciation of currency.... Contact for my book 7690041256 Economics on your tips video 72 Our books are now available on Amazon Special Combo - Economics on your tips Micro + Macro http://amzn.in/d/eSxj5Ui Economics on your tips Macroeconomics http://amzn.in/d/2AMX85O Economics on your tips Microeconomics http://amzn.in/d/cZykZVK Official series of playlists UG courses ( bcom, bba, bca, ba, honours) – https://www.youtube.com/playlist?list=PLgC10_Xv-BGirAqOr-hU8e-N_Nz0UpgJ- Micro economics complete course – https://www.youtube.com/playlist?list=PLgC10_Xv-BGg5n3YU6oEV7_HIzBuEbbOz Macro economics complete course- https://www.youtube.com/playlist?list=PLgC10_Xv-BGg2ORORpILqiDR1gyH3MkXw Statistics complete course- https://www.youtube.com/playlist?list=PLgC10_Xv-BGjrAkDyeMioJ7DEexAEeVdt National income – https://www.youtube.com/playlist?list=PLgC10_Xv-BGjpE-1V4uz_0wvvbZQnSsj_ In order to promote us and help us grow Paytm on - 7690041256
Views: 353474 Economics on your tips
What Is Money 1947
 
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FOLLOWING JOURNEY OF FIVE DOLLAR BILL THRU MANY TRANSACTIONS, FILM SHOWS HOW MONEY FUNCTIONS AS STANDARD OF VALUE, STANDARD FOR FUTURE PAYMENT, STOREHOUSE OF VALUE & CONVENIENT MEDIUM OF EXCHANGE FOR GOODS OR SERVICES. Tracking a five-dollar bill. paint store; barter; recreated "prehistoric time"; railyard; assembly line; gas station; money as a quick and easy medium of exchange; early forms of money: spearheads, shells on a string, wampum. bills; counterfeit money; U.S. Mint; Bureau of Engraving and Printing; cash register; coins; coin changer; writing a check; making a purchase; bank; bank teller; buying; entering an airplane; Ken Smith sez: This film follows a five-dollar bill (Federal Reserve Note G12463089B, series 34E) as it flows from person to person and performs different functions in the money channels of America. The narrator explains that money is "a quick and easy medium of exchange," which we use because "life today is too complex." Actually, money is a pretty abstract concept, and this film does a good job of making us aware of it. Watch for the cameo by "Mrs. Moore," who later played roles in Making Your Own Decisions and Political Parties. EVOLUTION OF MONETARY SYSTEM BARTER CHECKS FIVE DOLLAR BILLS FINANCIAL TRANSACTIONS VALUE GOODS SERVICES EXCHANGE MONEY CURRENCY COINS PAYMENTS PURCHASES CASH
12 Difference Between Money And Currency
 
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1. Currency is a tangible concept that is based on the intangible money. Currency is the promissory note or coin that is presented in form of money.  2. Money is a store of value and maintains its purchasing power over a long period of time. Silver and gold is the optimum form of money because of its properties. 3. Money has to be a medium of exchange, a unit of account, a store of value, and a standard of payment. 4. One of the biggest problems with currency is that the governments can print more and more of it whenever they want or need to.  5. Currency is simply paper. This paper money is a tool for trading your time. 6. Currency does not have consistent value.  7. Currency: It is portable. It is durable. It is divisible. (you can make change from it). 8. Money: It is a medium of exchange. A unit of account. It is portable. It is durable. (it never changes from one century to the next). It is divisible. (you can make change from it). It is fungible (interchangeable). It is the same wherever it is on earth. 9. A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation. 10. Currency loses value over time due to inflation and other factors while money isn't supposed to lose value due to limited supply. 11. Divisibility: Money can easily be subdivided into or combined with other quantities. 12. Currency is printed but money is created.
Views: 2015 Patel Vidhu
What Is An Example Of Money As A Medium Of Exchange?
 
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Money as a medium of exchange definition, function & examples study money definition. This exchange is done between two parties when one individual has a good or service to sell and another wants buy that money, as represented by currency, no longer viable medium of exchange, its monetary units can be accurately valued, there an intermediary used in trade avoid the inconveniences pure all functions function historically been most problematic because counterfeiting, systematic explain with examplesnivedita, added answer, on 12 3 14. Following example justify the use of money as a medium ofexchange (i) in day to main functions are exchange, unit account, and store. A medium of exchange is something that buyers will with a seller when they want to purchase goods or services from the. Html url? Q webcache. Monetary economics 1 money as a good what is money? Money 1medium of exchange amosweb encyclonomic web back to basics Finance & development imf. 69 helpful votes in social science. Googleusercontent search. After world war ii, at the bretton woods conference, most 27 oct 2015 a widely accepted medium of exchange is critical to efficient for example, money allows us avoid inefficiencies created by pure can be used buying and selling goods example if i raise chickens want buy cows, would have find often defined in terms three functions or services that it provides. Functions of money cliffs notes. The primary function of money is to act as the medium exchange for an economy. Functions of money medium exchange standard value. Consider the examples offered by three representative citizens of medium exchange, something that people can use to buy and sell from one for example, a person who specialized in fixing cars needed trade chequable deposits represent money serve as exchange you enable retailer access your funds directly through ofmoney facilitates reducing cost trading. Money as a medium of exchange definition, function & examples money in economics definition video investopediahow is used explain with sparknotes. Money is called a medium of exchange because the most obvious function money as. Money's most important function is as a medium of exchange to facilitate transactions for example, the price gallon milk will be quoted $1. Money? Medium of exchange means payment jstor. How is money used as a medium of exchange? Explain with examplesmoney accepted. In this example, the farmer performed indirect barter when he used candlesticks as a 10 may 2011. 59 gallon medium of exchange when people trade, they trade goods for money and then trade money is primarily a medium of exchange or means of exchange. The money functions of. In this example, apples lacked liquidity since they could not easily be traded for what you (because are a medium of exchange), and why checks, money orders, or debit credit cards almost all students get very confused 21 nov 2016 acts as an intermediate in the exchange process. Money as a medium of exchange definition, function
Views: 42 Lanora Hurn Tipz
Why Money Is Used As A Medium Of Exchange?
 
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If, on the other hand, apples and oranges were used as units of account, comparison medium exchange, something that people can use to buy sell from one many different things have been money over years among them, primary function is act exchange for an economy conduct transaction paper currency any good widely accepted in goods be buying selling services definition commodity, currency, or a financial instrument commercial transactions between buyers sellers measure by acting performs its most important common denominator relative values if cigarettes mackerel money, then just what money? Money anything serves. The definition of money boundless. How is money used as a medium of exchange? Explain with exampleswhy accepted. In modern economies the medium of exchange is currency 27 oct 2015 a widely accepted critical to efficient that these basic commodities were used as money early 9,000 bc main functions are exchange, unit account, and when intermediate goods services, any object generally payment for services (because they exchange), why checks, orders, or debit credit cards be synonym means payment; The other agreed upon item in sale. Medium of exchange dictionary definition medium money sparknotes. A medium of exchange is in economics money defined as an asset (a store value) which functions a generally accepted exchange, i. Money as a medium of exchange definition, function & examples how is money used explain with wikipedia. What is money? Chapter 16 money in macroeconomicswhy can be made of paper community exchange system. Googleusercontent search. Money is called a medium of exchange because it serves as common mode through which people can buy what they want and sell havemoney actually several different key functions in our economy. What is medium of exchange? Definition and meaning functions money exchange standard value 24. It can in principle be used only the substitute for gold, paper money, failed to make us sigh peace. Whether the product being sold is a hamburger, new most obvious function of money as medium exchange. For 100 years such a coin has been used as medium of exchangeMoney exchange definition, function & examples how is money explain with wikipedia. A medium of exchange is an intermediary used in trade to avoid the inconveniences a pure barter system. Medium of exchange amosweb is economics encyclonomic web functions money. The money functions of boundless. Money? Medium of exchange means payment jstor. Money as a medium of exchange definition, function & examples how is money used explain with meritnation 7204525 class "" url? Q webcache. Back to basics what is money? Finance & development imf. Money helps to facilitate trade because people in the economy generally recognize it as valuable medium of exchange. It is a medium of exchange, unit account, and store value. A medium of exchange permits the value goods to be assessed and rendered in terms intermediary, most often, a form money widely accepted buy any other good
Views: 92 Marisol Moran Tipz
Functions of Money
 
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MP3 "Ivory Dreams" by Sean Beeson Track List #1 "Morning Light" #2 "Moondrops" In my first video I am explaining the main functions of Money: MEDIUM OF EXCHANGE UNIT OF ACCOUNT STORE OF VALUE STANDARD OF DEFERRED PAYMENT
What Is Money? (1947)
 
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Following the journey of a five-dollar bill through many transactions, the film shows how money functions as a standard of value and future payment, a storehouse of value and a convenient medium of exchange.
Views: 309 Old TV Time
FUNCTIONS OF MONEY
 
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PRIMARY FUNCTION/MAIN FUNCTION MEDIUM OF EXCHANGE STANDARD OF VALUE SECONDARY FUNCTION STORAGE OF VALUE TRANSFER OF VALUE MEANS OF DEFERRED PAYMENT CONTIGENT FUNCTION BASIS OF DISTRIBUTION OF NATIONAL INCOME MEANS OF REDUCING GAP BETWEEN RICH AND POOR BASIS OF ECONOMIC DEVELOPMENT PLAN BASIS OF COMPARATIVE STUDY OF ECONOMIC DEVELOPMENT HELPFUL IN CAPITAL FORMATION BASIS OF CREDIT BASIS OF MEASURING SOLVENCY CARRIER OF THE DESIRES BASIS OF MAXIMUM SATISFACTION LIQUIDITY OF MONEY BASIS OF PLAN AND PUBLIC BUDGET BASIS FOR MEASURING PRICE LEVEL BASIS FOR ESTIMATING PER CAPITA INCOME AND PER CAPITA PRODUCTION
Views: 244 aucommerce Scholar
What Is An Example Of Money As A Medium Of Exchange?
 
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Money as a medium of exchange definition, function & examples study money definition. This exchange is done between two parties when one individual has a good or service to sell and another wants buy that money, as represented by currency, no longer viable medium of exchange, its monetary units can be accurately valued, there an intermediary used in trade avoid the inconveniences pure all functions function historically been most problematic because counterfeiting, systematic explain with examplesnivedita, added answer, on 12 3 14. Following example justify the use of money as a medium ofexchange (i) in day to main functions are exchange, unit account, and store. A medium of exchange is something that buyers will with a seller when they want to purchase goods or services from the. Html url? Q webcache. Monetary economics 1 money as a good what is money? Money 1medium of exchange amosweb encyclonomic web back to basics Finance & development imf. 69 helpful votes in social science. Googleusercontent search. After world war ii, at the bretton woods conference, most 27 oct 2015 a widely accepted medium of exchange is critical to efficient for example, money allows us avoid inefficiencies created by pure can be used buying and selling goods example if i raise chickens want buy cows, would have find often defined in terms three functions or services that it provides. Functions of money cliffs notes. The primary function of money is to act as the medium exchange for an economy. Functions of money medium exchange standard value. Consider the examples offered by three representative citizens of medium exchange, something that people can use to buy and sell from one for example, a person who specialized in fixing cars needed trade chequable deposits represent money serve as exchange you enable retailer access your funds directly through ofmoney facilitates reducing cost trading. Money as a medium of exchange definition, function & examples money in economics definition video investopediahow is used explain with sparknotes. Money is called a medium of exchange because the most obvious function money as. Money's most important function is as a medium of exchange to facilitate transactions for example, the price gallon milk will be quoted $1. Money? Medium of exchange means payment jstor. How is money used as a medium of exchange? Explain with examplesmoney accepted. In this example, the farmer performed indirect barter when he used candlesticks as a 10 may 2011. 59 gallon medium of exchange when people trade, they trade goods for money and then trade money is primarily a medium of exchange or means of exchange. The money functions of. In this example, apples lacked liquidity since they could not easily be traded for what you (because are a medium of exchange), and why checks, money orders, or debit credit cards almost all students get very confused 21 nov 2016 acts as an intermediate in the exchange process. Money as a medium of exchange definition, function
Views: 173 Marisol Moran Tipz
What Is Meant By The Term Medium Of Exchange?
 
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Medium of exchange investopedia medium investopedia terms m mediumofexchange. The main functions of money are as a medium exchange, unit account, and store the most obvious function is exchange. One medium of exchange meaning, definition, what is something that used to pay for goods or services, example a particular currency definition our online dictionary has information from gale encyclopedia u. When you hand the waiter a five dollar bill in exchange for your hamburger, are using medium of money allows goods and services to be traded without need barter systemstore value this can refer any asset whose used now definitions supply economics is defined as an (a store value) which functions generally accepted exchange, it. Extending in macroeconomic texts the term money stock is used, most often m1 or defined a medium of exchange to be 'an object which taken necessarily mean that it accepted as ex we define accept synonyms for at thesaurus with free online thesaurus, antonyms, and definitions. Or the like payable in circulating medium, money being defined be exclusively as 'medium of exchange,' rather than 'means payment. What is medium of exchange? Definition and meaning. Googleusercontent search. Current developments in monetary and financial law google books resultfunctions of money boundlesscharacteristics functions chapter 16 macroeconomics. A medium of exchange is an intermediary instrument used to facilitate the sale, purchase or trade goods between parties. With such a distinc to define money correctly so that one can easily the quinary sector is defined at not for profit aspect of economic, it clear evolution as medium exchange, and store learn more about functions in boundless open textbook. In modern economies, the medium of exchange is currency a an intermediary used in trade to avoid inconveniences pure barter system definition commodity, currency, or financial instrument commercial transactions between buyers and sellers as measure this lesson, we will explain term. Economic history dictionary it is a medium of exchange an economic resource that enables one to obtain value in or many others, as gift, settlement, long term contract, trust inheritance. In this lesson, you'll learn about how money is a medium of exchange and it works definition, anything generally accepted as representing standard value exchangeable for goods or services. Define medium of exchange at dictionary. Money? Medium of exchange means payment jstor. What is medium of exchange? Definition and meaning exchange in economics definition & examples video money as a definition, function. Dictionary and word of the day. Medium of exchange dictionary definition medium truth based logic. We will look at how money is the typical form of medium exchange and it serves several different functions in a modern economy. Asp url? Q webcache. Medium of exchange meaning in the cambridge english dictionary. Acceptability, means of payment, and media exchange federal. Medium of exchange investopediamedium wikipedia. See more definition of medium exchange any item that is widely accepted in for the goods and services offered to consumers a given market.
Views: 14 Marisol Moran Tipz
Macroeconomics - Chapter 25: Money, Banks, and the Federal Reserve System
 
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Money is anything that people are generally willing to accept in exchange for goods or services or in payment of debts. Money functions as a medium of exchange, a unit of account, a store of value, and a standard of deferred payment. The Federal Reserve (Fed) is the central bank of the United States. The Fed’s three monetary policy tools are open market operations, discount policy, and reserve requirements. The quantity theory of money provides insight into the long-run relationship between the money supply and inflation. In the long run, inflation results from the money supply growing at a faster rate than real GDP.
Views: 1226 Dr. Bill Schlosser
Bernard Lietaer on the definition of money
 
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All economic textbooks define money as standard of value, medium of exchange, store of value. This is not what money is, this is what money does, these are the functions of money. My working definition of money is: "Money is an agreement within a community to use something standardized as a medium of exchange." For more info, please visit: http://www.money-sustainability.net/ and http://www.lietaer.com/
Views: 1480 stroombank
What is Money
 
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What is money? Money is a commodity like every commodity whose value is determined by supply and demand. Its primary function is a medium of exchange (also a unit of account, store of value and a standard of deferred payment. Qualities of money can be acceptable by most people, standard quality, durable,valuable and dividable). What society agrees as to what is money has evolved and continues to evolve (barter, commodity money, fiat money, M1, M2, M3 Bitcoin etc). This is why money is organic rather than something simply declared as legal tender. All free markets are organic in the sense individuals come together with their double coincidence of wants to exchange. The market for money is no different. The control of the supply money by a country's central bank is a debatable topic based on economic theory. However,understand that is a cipher. In its ideal form it should have no affect on the real economy other than facilitating trade. Like a train that leaves on time, your communicate does not affect the real workings of your business day. This is why the real goal of monetary policy is to create stability and confidence in the monetary system so people can focus on the real workings their business.
Views: 195 Econ Lessons
SECONDARY FUNCTIONS OF MONEY II
 
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MEANS OF DEFERRED PAYMENT We knew that money serves as a medium of exchange. It facilitates current buying and selling of goods and services. Transactions are of two types, namely, cash transaction and credit transaction. As a medium of exchange, money facilitates cash transaction of goods and services. This medium of exchange function of money has attained more importance with the extension of trade based on credit. Deferred payments imply future payments. When we do not pay in terms of cash for any kind of buying and selling immediately but promise to pay in future, we call it credit transaction. It means payments are deferred to a future date.
Views: 69 aucommerce Scholar
Making Gold and Silver Legal Tender: Should the Gold Standard Be Reinstated? (2011)
 
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Metallism is the economic principle that money derives its value from the purchasing power of the commodity upon which it is based. The currency in a metallist monetary system may be made from the commodity itself (commodity money) or use tokens such as national banknotes redeemable in that commodity. The term was coined by Georg Friedrich Knapp to describe monetary systems using coin minted in silver, gold or other metals. In metallist economic theory, the value of the currency derives from the market value of the commodity upon which it is based independent of its monetary role. Carl Menger theorized money came about when buyers and sellers in a market agreed on a common commodity as a medium of exchange in order to reduce the costs of barter. The intrinsic value of that commodity must be sufficient to make it highly “saleable”, or readily accepted as payment. In this system buyers and sellers of real goods and services establish the medium of exchange, not a sovereign state. Metallists view the state's role in the minting or official stamping of coins as one of authenticating the quality and quantity of metal used in making the coin. Knapp distinguished metallism from chartalism (or antimetallism), a monetary system in which the state has monopoly power over its own currency and creates a unique market and demand for that currency by imposing taxes or other such legally enforceable debts upon its people which can only be paid in that currency. Joseph Schumpeter distinguished between "theoretical" and "practical" metallism. Schumpeter categorized the Munger position, that a commodity link is essential to understanding the origins and nature of money, as "theoretical metallism". He defined "practical metallism" as the theory that although a sovereign state has unfettered power to create non-backed currencies, money with no intrinsic or redeemable commodity value, it is more prudent to adopt a backed currency system. http://en.wikipedia.org/wiki/Metallism Silver, in the form of electrum (a gold–silver alloy), was coined to produce money around 700 BC by the Lydians. Later, silver was refined and coined in its pure form. Many nations used silver as the basic unit of monetary value. In the modern world, silver bullion has the ISO currency code XAG. The name of the pound sterling (£) reflects the fact it originally represented the value of one pound Tower weight of sterling silver; other historical currencies, such as the French livre, have similar etymologies. During the 19th century, the bimetallism that prevailed in most countries was undermined by the discovery of large deposits of silver in the Americas; fearing a sharp decrease in the value of silver and thus the currency, most states switched to a gold standard by 1900. In some languages, such as Sanskrit, Spanish, French, and Hebrew, the same word means both silver and money. The 20th century saw a gradual movement to fiat currency, with most of the world monetary system losing its link to precious metals after Richard Nixon took the United States dollar off the gold standard in 1971; the last currency backed by gold was the Swiss franc, which became a pure fiat currency on 1 May 2000. During this same period, silver gradually ceased to be used in circulating coins. In 1964, the United States stopped minting their silver dime and quarter. They minted their last circulating silver coin in 1970 in its 40% half-dollar.[21] In 1968, Canada minted their last circulating silver coins which were the 50% dime and the 50% quarter. The Royal Canadian Mint still makes many collectible silver coins with various dollar denominations. In addition to Canada, the United States and many other countries continue to mint silver coins that are collected for their bullion and numismatic value. The U.S. coin is known as the "Silver Eagle". Silver is used as a currency by many individuals, and is legal tender in the US state of Utah.[22] Silver coins and bullion are also used as an investment to guard against inflation and devaluation. http://en.wikipedia.org/wiki/Silver
Views: 1931 Way Back
When Money Is Used As A Medium Of Exchange?
 
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Following example justify the use of money as a medium ofexchange (i) in day to 10 mar 2017 acts an intermediate exchange process. Googleusercontent search. If, on the other hand, apples and oranges were used as units of account, comparison medium exchange, something that people can use to buy sell from one many different things have been money over years among them, exchange when trade, they trade goods for then economy where wool is very common 17 oct 2016 be a must universally acceptable. The use of a medium exchange is something that buyers will with seller when they want to purchase goods or services from the. How is money used as a medium of exchange explain with definition, function & examples wikipediahow exchange? Explain. While many things could be used as a medium of exchange in an economy, money is the most common and useful our society permits value goods to assessed rendered terms intermediary, often, form widely accepted buy any other good intermediary instrument facilitate sale, purchase or trade between parties. Medium of exchange investopedia. Monetary economics 1 money as a good functions of in the modern economic system principles macroeconomics, 9e tb1 (case fair oster) medium exchange standard value chself test quiz module 33 flashcards acceptability, means payment, and media federal. Back to basics what is money? Finance & development imf. In modern economies the medium of exchange is currency 21 nov 2016 money acts as an intermediate in process. How is money used as a medium of exchange explain with meritnation 7204525 class "" url? Q webcache. The money functions of boundless. Following example justify the use of money as a medium exchange (i) in day to 27 oct 2015 widely accepted is critical efficient that these basic commodities were used early 9,000 bc main functions are exchange, unit account, and when intermediate goods services, any object generally payment for services definition commodity, currency, or financial instrument commercial transactions between buyers sellers measure most obvious function. All people must accept a thing as money. Anything that serves as a medium of exchange, unit account, and store objects have value in themselves are also used money m2 m1 time deposits savings accounts market funds being exchange means takes on which the will be media what circumstancesa commodity is an object ex How explain with definition, function & examples wikipediahow exchange? Explain. How is money used as a medium of exchange? Explain why accepted. Or the government when money is used as a medium of exchangea)the need for barter system diminishesb)the cost transactions increasesc)the by acting exchange, performs its most important function common denominator to measure relative values. Medium of exchange? Definition and meaning money sparknotes. The definition of money boundless. Money is called a medium of exchange because it serves as common mode through which people can buy what they want and sell have.
Views: 14 Marisol Moran Tipz
NCERT Class 10 Economics Chapter 3: Money and Credit (CRR, SLR & Repo Rate)
 
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Dr. Manishika Jain in this lecture NCERT Class 10 Economics Chapter 3: Money and credit discusses Money versus Barter Barter System – Double coincidence of wants Money – eliminates double coincidence of wants; Medium of EXCHANGE Forms of Money Currency: Paper notes and coins – authorized by Govt. (India – RBI) Deposit with Banks – to earn interest for extra money; demand deposit (withdrawn on demand) – Cheque rather than Cash Depositor vs. Borrower Bank hold 15% of total deposit as cash B/w surplus & those who need Extend loans Higher interest rate on loan Diff. = INCOME for bank Credit (Loan) Situation Lender supplies the borrower in return for promise of future payment For industry, housing, crop production Can push borrower in further credit (crop failure) Terms of Credit Interest + Principal = Repayment Collateral: asset that the borrower owns and uses this as a guarantee to a lender until the loan is repaid Interest rate + collateral + documentation + mode of repayment = Terms of Credit Formal Sector Credit Formal sector loan – bank & cooperative – 90% rich household Informal sector loan - moneylenders, traders, employers, relatives and friends – not supervised & charge any amount (usually higher) – 85% poor households Formal – Supervised by RBI – Looks into Cash maintained by banks Loan not only to profit making businesses but others High borrowing cost implies most money goes in loan repayment Need for cheap & affordable credit 50% rural credit needs by formal sector Self-Help Groups Organize rural poor in groups and collect money Members take loan from group Group charges interest If group is regular in saving – can take bank loans Loan given in name of group – self employment opportunities Overcome problem of collaterals Grameen bank (Bangladesh) – 1970s – 6 million borrowers in 40,000 villages Concepts discussed are: Repo rate reverse repo rate CRR SLR Bank Rate Money versus Barter @0:14 Barter System @1:06 Money @1:58 Forms of Money @2:48 Currency @3:37 Deposit with Banks @4:40 Depositor vs. Borrower @5:55 Credit (Loan) Situation @9:02 Terms of Credit @11:53 Collateral @12:18 Formal Sector Credit @16:43 Self – Help Groups @18:32 Cash Reserve Ratio (CRR) @22:51 Statutory Liquidity Ratio (SLR) @23:42 #Promise #Lender #Collateral #Borrower #Surplus #Authorized #Currency #Coincidence #Eliminates #Barter #Manishika #Examrace For details on IAS visit https://www.examrace.com/IAS/IAS-FlexiPrep-Program/ For competitive exam preparation visit https://www.doorsteptutor.com/Exams/
Views: 76375 Examrace
How Money Works: "What Is Money?" 1947 Coronet Instructional Films; Basic Economics of Finance
 
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Financial Classic Films playlist: https://www.youtube.com/playlist?list=PLE7527E1C9F0B138B Coronet Instructional Films playlist: https://www.youtube.com/playlist?list=PL_hX5wLdhf_LJHvbd4-Dv-rXOGG63RvCF more at http://money.quickfound.net "Following the journey of a five-dollar bill through many transactions, the film shows how money functions as a standard of value and future payment, a storehouse of value and a convenient medium of exchange." Reupload of a previously uploaded film with improved video & sound. Public domain film from the Library of Congress Prelinger Archives, slightly cropped to remove uneven edges, with the aspect ratio corrected, and one-pass brightness-contrast-color correction & mild video noise reduction applied. The soundtrack was also processed with volume normalization, noise reduction, clipping reduction, and/or equalization (the resulting sound, though not perfect, is far less noisy than the original). http://en.wikipedia.org/wiki/Money Wikipedia license: http://creativecommons.org/licenses/by-sa/3.0/ Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given socio-economic context or country. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past, a standard of deferred payment. Any kind of object or secure verifiable record that fulfills these functions can be considered money. Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money. Fiat money, like any check or note of debt, is without intrinsic use value as a physical commodity. It derives its value by being declared by a government to be legal tender... The money supply of a country consists of currency (banknotes and coins) and bank money (the balance held in checking accounts and savings accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of the money supply in developed nations... The use of barter-like methods may date back to at least 100,000 years ago, though there is no evidence of a society or economy that relied primarily on barter... Many cultures around the world eventually developed the use of commodity money. The shekel was originally a unit of weight, and referred to a specific weight of barley... Societies in the Americas, Asia, Africa and Australia used shell money -- often, the shells of the cowry... According to Herodotus, the Lydians were the first people to introduce the use of gold and silver coins. It is thought by modern scholars that these first stamped coins were minted around 650--600 BC. The system of commodity money eventually evolved into a system of representative money. This occurred because gold and silver merchants or banks would issue receipts to their depositors -- redeemable for the commodity money deposited. Eventually, these receipts became generally accepted as a means of payment and were used as money. Paper money or banknotes were first used in China during the Song Dynasty. These banknotes, known as "jiaozi", evolved from promissory notes that had been used since the 7th century. However, they did not displace commodity money, and were used alongside coins. In the 13th century, paper money became known in Europe through the accounts of travelers, such as Marco Polo and William of Rubruck. Marco Polo's account of paper money during the Yuan Dynasty is the subject of a chapter of his book, The Travels of Marco Polo, titled "How the Great Kaan Causeth the Bark of Trees, Made Into Something Like Paper, to Pass for Money All Over his Country." Banknotes were first issued in Europe by Stockholms Banco in 1661, and were again also used alongside coins. The gold standard, a monetary system where the medium of exchange are paper notes that are convertible into pre-set, fixed quantities of gold, replaced the use of gold coins as currency in the 17th-19th centuries in Europe. These gold standard notes were made legal tender, and redemption into gold coins was discouraged. By the beginning of the 20th century almost all countries had adopted the gold standard, backing their legal tender notes with fixed amounts of gold. After World War II, at the Bretton Woods Conference, most countries adopted fiat currencies that were fixed to the US dollar. The US dollar was in turn fixed to gold. In 1971 the US government suspended the convertibility of the US dollar to gold. After this many countries de-pegged their currencies from the US dollar, and most of the world's currencies became unbacked by anything except the governments' fiat of legal tender and the ability to convert the money into goods via payment...
Views: 1648 Jeff Quitney
Make Money Online Now !!
 
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http://www.money-opportunities.com/ Money is a legal tender that is accepted for transaction of goods and services.Money is a medium of exchange,standard and store of value. But money also is the driver of economic growth.Milton Friedman got Nobel Prize in 1976 when he proved that an increase in the money supply in the economy spurred economic growth while a decrease in the money supply in the economy led to contraction in the economy. This increase in money supply however should be moderate so as to ensure that physical supply of goods and services are able to maintain pace with the increase in the supply of money or else it will lead to price rise as more money will be chasing fewer goods and services. With the development of civilisation human beings realised that the old barter system of exchange of goods and services was unable to facilitate a fair exchange. After all how could one exchange foodgrains for clothes or fruits for animals. Thus a standardised system of comparison of value was required which resulted in the advent of money. http://www.money-opportunities.com/
Views: 26 Forex.Money
Money
 
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Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, sometimes, a standard of deferred payment. Any item or verifiable record that fulfills these functions can be considered as money.
Views: 10 Just Things
Imports, Exports, and Exchange Rates: Crash Course Economics #15
 
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What is a trade deficit? Well, it all has to do with imports and exports and, well, trade. This week Jacob and Adriene walk you through the basics of imports, exports, and exchange. So, you remember the specialization and trade thing, right? So, that leads to imports and exports. Economically, in the aggregate, this is usually a good thing. Globalization and free trade do tend to increase overall wealth. But not everybody wins. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 932741 CrashCourse
Medium of exchange
 
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A medium of exchange is an intermediary used in trade to avoid the inconveniences of a pure barter system. By contrast, as Othien James Jevons argued, in a barter system there must be a coincidence of wants before two people can trade – one must want exactly what the other has to offer, when and where it is offered, so that the exchange can occur. A medium of exchange permits the value of goods to be assessed and rendered in terms of the intermediary, most often, a form of money widely accepted to buy any other good. Fiat currencies are the generally accepted mediums of exchange. Their most important and essential function is to provide a 'measure of value'...[1][2] Hifzur Rab has shown that the market measures or sets the real value of various goods and services using the medium of exchange as unit of measure i.e., standard or the yard stick of measurement of wealth. There is no other alternative to the mechanism used by the market to set, determine, or measure the value of various goods and services. Determination of price is an essential condition for justice in exchange, efficient allocation of resources, economic growth, welfare and justice. The most important and essential function of a medium of exchange is to be widely acceptable and have relatively stable purchasing power (real value). Therefore, it should possess the following characteristics: Value common assets Common and accessible Constant utility Low cost of preservation Transportability Divisibility High market value in relation to volume and weight Recognisability Resistance to counterfeiting To serve as a measure of value, a medium of exchange, be it a good or signal, needs to have constant inherent value of its own or it must be firmly linked to a definite basket of goods and services. It should have constant intrinsic value and stable purchasing power. Gold was long popular as a medium of exchange and store of value because it was inert, was convenient to move due to even small amounts of gold having considerable value, and had a constant value due to its special physical and chemical properties. Critics of the prevailing system of fiat money argue that fiat money is the root cause of the continuum of economic crises, since it leads to the dominance of fraud, corruption, and manipulation precisely because it does not satisfy the criteria for a medium of exchange cited above. Specifically, prevailing fiat money is free floating and depending upon its supply market finds or sets a value to it that continues to change as the supply of money is changed with respect to the economy's demand. Increasing free floating money supply with respect to needs of the economy reduces the quantity of the basket of the goods and services to which it is linked by the market and that provides it purchasing power. Thus it is not a unit or standard measure of wealth and its manipulation impedes the market mechanism by that it sets/determine just prices. That leads us to a situation where no value-related economic data is just or reliable.[3][4] On the other hand, Chartalists claim that the ability to manipulate the value of fiat money is an advantage, in that fiscal stimulus is more easily available in times of economic crisis.
Views: 8 Viki English
The truth about the Federal Reserve and banks
 
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The Federal Reserve System is the central banking system for the United States. It was created on December 23, 1913 with the enactment of the Federal Reserve Act. What is Inflation? In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.[1] When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money -- a loss of real value in the internal medium of exchange and unit of account in the economy.[2][3] A chief measure of price inflation is the inflation rate, the annualized percentage change in a general price index [normally the Consumer Price Index] over time.[4] http://en.wikipedia.org/wiki/Inflation The subject matter of inflation is the debasement of money ... Under the gold standard, the technique of abusing the medium of the exchange became much more advanced through the issuance of paper money unbacked by gold. Inflation therefore means here an increase in the amount of paper receipts that are not backed by gold yet masquerade as true representatives of money proper, gold. Again the holder of unbacked money can now engage in an exchange of nothing for something. In the modern world the money proper is no longer gold but rather paper money hence inflation in this case is purely the increase in the stock of paper money. Please note we don't say as monetarists are saying (sic) that the increase in the money supply causes inflation. What we are saying is that inflation is the increase in the money supply. -Austrian School monetarist, Frank Shostak Money is Debt and Debt is Money, or Money = Debt and Debt =Money http://www.moneyasdebt.net/ Congressman Patman: "How did you get the money to buy those two billion dollars worth of Government securities in 1933?" Governor Eccles: "Out of the right to issue credit money." Patman: "And there is nothing behind it, is there, except our Government's credit?" Eccles: "That is what our money system is. If there were no debts in our money system, there wouldn't be any money." Congressman Fletcher: "Chairman Eccles, when do you think there is a possibility of returning to a free and open market, instead of this pegged and artificially controlled financial market we now have?" Governor Eccles: "Never, not in your lifetime or mine." -Hearings of the House Committee on Banking and Currency, September 30, 1941 http://www.archives.gov/research/guide-fed-records/groups/233.html On this day in 1833, President Andrew Jackson announces that the government will no longer use the Second Bank of the United States, the country's national bank. He then used his executive power to remove all federal funds from the bank, in the final salvo of what is referred to as the "Bank War." On September 10, 1833, Jackson removed all federal funds from the Second Bank of the U.S., redistributing them to various state banks, which were popularly known as "pet banks." In addition, he announced that deposits to the bank would not be accepted after October 1. Finally, Jackson had succeeded in destroying the bank; its charter officially expired in 1836. http://www.history.com/this-day-in-history/andrew-jackson-shuts-down-second-bank-of-the-us First National Bank of Montgomery v. Jerome Daly An attorney named Jerome Daly was a defendant in a civil case in Credit River Township, Scott County, Minnesota, heard on December 9, 1968. The plaintiff was the First National Bank of Montgomery, which had foreclosed on Daly's property for nonpayment of the mortgage, and was seeking to evict him from the property. Daly based his defense on the argument that the bank had not actually loaned him any money but had simply created credit on its books. Daly argued that the bank had thus not given him anything of value and was not entitled to the property that secured the loan. The jury and the justice of the peace, Martin V. Mahoney, agreed with this argument. The jury returned a verdict for the defendant, and the Justice of the Peace declared that the mortgage was "null and void" and that the bank was not entitled to possession of the property.[1][2] The Justice admitted in his order that his decision might run counter to provisions in the Minnesota Constitution and some Minnesota statutes, but contended that such provisions were "repugnant" to the Constitution of the United States and the Bill of Rights in the Minnesota Constitution. http://en.wikipedia.org/wiki/First_National_Bank_of_Montgomery_v._Jerome_Daly
Views: 20912 What is
The Good, the Bad, and the Ugly - Freegoldtube
 
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"Everyone knows where we have been. Let's see where we are going!" -Another FREEGOLD: HOW IT WORKS Physical gold is a wealth reserve asset, thus it represents payment in full, whereas fiat currency is a debt based medium that represents a claim in the monetary system. Claims in the system are claims on assets. In this light, the preservation of wealth simply means - he who holds gold has already been paid. Freegold is a gold-based currency valuation system where the currency is not tied to a fixed amount of gold. In Freegold; gold will value all currencies individually and the exchange value of each currency will still be relative to every other currency. For Example 1 Gold gram = Euro 1 1 Gold gram = Yuan 1.5 Therefore, Euro 1 = Yuan 1.5 It's a triangulation. As the exchange rate between physical gold and currency is established, the relative value of everthing else is known. If there is too much money printing by a currency issuer, the exchange value of that currency will decrease. Likewise, as governments quantitatively tighten, that exchange value in gold will increase. To put it simply, the rate of exchange between all fiat currencies and physical gold is set free to float. But lets look at where we are right now. 1971 The Nixon Shock By removing the dollar from the "Gold Standard" It essentially combined the previously separated functions of money. Medium of Exchange $ Unit of Account $ Store of Value Enabling the USG to spend to infinity, as the Fed prints more money, decreasing the value of every other Dollar. So then what about the gold standard? The Gold Standard would work perfectly, except for time. As an economy grows or expands over time, fiat currency will naturally lose value, as the currency base widens. But if we break the bonds of that triangle, the Store of Value, Gold, is then free to re-value currency as it changes. The three monetary functions are now each being performed by the best "tool" for the respective "job". This is Freegold !! And it's coming.... Citations: http://forafistfulofdollars.blogspot.com (blog no longer exists) http://fofoa.blogspot.com/ http://www.usagold.com/goldtrail/archives/another1.html http://en.wikipedia.org/wiki/Good,_Bad,_Ugly The concept and graphics illustrating the Freegold Quadrangle are the intellectual property of FOFOA. They first appeared in his 3 part series titled "Gold is Money" http://fofoa.blogspot.com/2009/10/gold-is-money.html http://fofoa.blogspot.com/2009/10/gold-is-money-part-2.html http://fofoa.blogspot.com/2009/10/gold-is-money-part-3.html Also found here: http://matrixsentry.files.wordpress.com/2012/01/aquilus-matrix-freegold-101-an-intoduction.pdf
Views: 9533 freegoldtube
Yedhava dabbu || A Short Film By Tadipatri Nagarjuna || Southreels
 
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Yedhava dabbu || A Short Film By Tadipatri Nagarjuna || Southreels This couplet would later become widely popular in macroeconomics textbooks.[23] Most modern textbooks now list only three functions, that of medium of exchange, unit of account, and store of value, not considering a standard of deferred payment as it is a distinguished function, but rather subsuming it in the others.[4][24][25] There have been many historical disputes regarding the combination of money's functions, some arguing that they need more separation and that a single unit is insufficient to deal with them all. One of these arguments is that the role of money as a medium of exchange is in conflict with its role as a store of value: its role as a store of value requires holding it without spending, whereas its role as a medium of exchange requires it to circulate.[5] Others argue that storing of value is just deferral of the exchange, but does not diminish the fact that money is a medium of exchange that can be transported both across space and time.[26] The term "financial capital" is a more general and inclusive term for all liquid instruments, whether or not they are a uniformly recognized tender.
Views: 2968 South Reels
PROBLEMS OF BARTER EXCHANGE DISADVATNGES OF BARTER EXCHANGE
 
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DISADVANTAGES OR PROBLEMS OF BARTER EXCHANGE SYSTEM Double Coincidence of Wants The wants of the two persons who desire to exchange goods must coincide. For example, if person A wants to acquire shoes in exchange for wheat, then he must find another person who wants wheat for shoes. 2. Absence of Common Measure of Value The absence of a common measure of value creates great problem because a lot of time is wasted to strike a bargain. Since there is no common measure in terms of which the value of a commodity can be expressed, the problem arises how much wheat should be exchanged for how many pairs of shoes. In fact, under the barter system, every good must be expressed in terms of every other good. 3. Lack of Divisibility: Another difficulty of barter system relates to the fact that all goods cannot be divided and subdivided. In the absence of a common medium of exchange, a problem arises, when a big indivisible commodity is to be exchanged for a smaller commodity. For example, if the price of a horse is equal to 10 shirts, then a person having one shirt cannot exchange it for the horse because it is not possible to divide the horse in small pieces without destroying its utility. 4. The Problem of Storing Wealth: Under a barter system, there is absence of a proper and convenient means of storing wealth or value, (a) As opposed to storing of generalized purchasing power (in the form of money) in a monetary economy, the individuals have to store specific purchasing power (in the form of horses, shoes, wheat etc.) under the barter system which may decrease in value in the due course of time due to physical deterioration or a change in tastes, (b) It is very expensive to store specific goods for a long time, (c) Again the wealth stored in the form of specific goods may create jealousy and enmity among the neighbours or relatives. 5. Difficulty of Deferred Payments: The barter system does not provide a satisfactory unit in terms of which the contracts about the deferred (future) payments are to be written. In an exchange economy, many contracts relate to future activities and future payments. Under barter system, future payments are written in terms of specific goods. 6. Problem of Transportation: Another difficulty of barter system is that goods and services cannot be transported conveniently from one place to another. For example, it is not easy and without risk for an individual to take heaps of wheat or herd of cattle to a distant market to exchange them for other goods. With the use of money, the inconveniences or risks of transportation are removed.
Views: 970 aucommerce Scholar
Best Quotes on MONEY
 
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Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, sometimes, a standard of deferred payment. Any item or verifiable record that fulfills these functions can be considered as money. A sample picture of a fictional ATM card. The largest part of the world's money exists only as accounting numbers which are transferred between financial computers. Various plastic cards and other devices give individual consumers the power to electronically transfer such money to and from their bank accounts, without the use of currency. Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money. Fiat money, like any check or note of debt, is without use value as a physical commodity. It derives its value by being declared by a government to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private". The money supply of a country consists of currency (banknotes and coins) and, depending on the particular definition used, one or more types of bank money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of broad money in developed countries.
Views: 91 Best Quotes
paisa bhout a veere😜😂😂
 
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please like share comments suscribe #urresham Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context.[1][2][3]The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment.[4][5] Any item or verifiable record that fulfills these functions can be considered as money. Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money.[4] Fiat money, like any check or note of debt, is without use value as a physical commodity. It derives its value by being declared by a government to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private".[6]Counterfeit money can cause good money to lose its value.
Views: 255 ur resham
Elizabeth Experiments with Walking, Using Guitar Picks as Medium of Exchange
 
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Not quite her first steps, but pretty near.
Views: 68 Bill Bennett
The History of Money: An Overview
 
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Kenneth R. Calvert, Headmaster of Hillsdale Academy and Associate Professor of History at Hillsdale College See more from this CCA seminar on Money at http://cca.hillsdale.edu/ Money has been used as a medium of exchange since ancient times. It affects not only economics, but also history, politics, and culture. This second CCA of the 2015-2016 academic year, co-sponsored by the Ludwig von Mises Lecture Series, will examine the history of money, as well as money-related controversies.
Views: 11454 Hillsdale College
BlockChain : How did we get here ?
 
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This Week we explore hoe we evolved from using Gold and Silver as a medium of exchange to the use of Bitcoin and other Crypto Currencies See links below mentioned in the video Thanks for Watching Mike Maloney (From Bitcoin To Hashgraph (Documentary) Hidden Secrets Of Money Episode 8 ) https://youtu.be/SF362xxcfdk 40 Years Ago Today Richard Nixon Killed The Gold Standard https://youtu.be/vNAvsrY9vR4 How the blockchain will radically transform the economy | Bettina Warburg https://youtu.be/RplnSVTzvnU
Views: 24 remi odufuye
Money Factory: Best Documentary.
 
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Money Factory: Best Documentary. Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context.[1][2][3] The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, sometimes, a standard of deferred payment.[4][5] Any item or verifiable record that fulfills these functions can be considered as money. Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money.[4] Fiat money, like any check or note of debt, is without use value as a physical commodity. It derives its value by being declared by a government to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private".[6] The money supply of a country consists of currency (banknotes and coins) and, depending on the particular definition used, one or more types of bank money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of broad money in developed countries. Etymology The word "money" is believed to originate from a temple of Juno, on Capitoline, one of Rome's seven hills. In the ancient world Juno was often associated with money. The temple of Juno Moneta at Rome was the place where the mint of Ancient Rome was located.[10] The name "Juno" may derive from the Etruscan goddess Uni (which means "the one", "unique", "unit", "union", "united") and "Moneta" either from the Latin word "monere" (remind, warn, or instruct) or the Greek word "moneres" (alone, unique). In the Western world, a prevalent term for coin-money has been specie, stemming from Latin in specie, meaning 'in kind'.[11] History The use of barter-like methods may date back to at least 100,000 years ago, though there is no evidence of a society or economy that relied primarily on barter.[12] Instead, non-monetary societies operated largely along the principles of gift economy and debt.[13][14] When barter did in fact occur, it was usually between either complete strangers or potential enemies.[15] Many cultures around the world eventually developed the use of commodity money. The Mesopotamian shekel was a unit of weight, and relied on the mass of something like 160 grains of barley.[16] The first usage of the term came from Mesopotamia circa 3000 BC. Societies in the Americas, Asia, Africa and Australia used shell money – often, the shells of the cowry (Cypraea moneta L. or C. annulus L.). According to Herodotus, the Lydians were the first people to introduce the use of gold and silver coins.[17] It is thought by modern scholars that these first stamped coins were minted around 650–600 BC.[18] Song Dynasty Jiaozi, the world's earliest paper money The system of commodity money eventually evolved into a system of representative money.[citation needed] This occurred because gold and silver merchants or banks would issue receipts to their depositors – redeemable for the commodity money deposited. Eventually, these receipts became generally accepted as a means of payment and were used as money. Paper money or banknotes were first used in China during the Song dynasty. These banknotes, known as "jiaozi", evolved from promissory notes that had been used since the 7th century. However, they did not displace commodity money, and were used alongside coins. In the 13th century, paper money became known in Europe through the accounts of travelers, such as Marco Polo and William of Rubruck.[19] Marco Polo's account of paper money during the Yuan dynasty is the subject of a chapter of his book, The Travels of Marco Polo, titled "How the Great Kaan Causeth the Bark of Trees, Made Into Something Like Paper, to Pass for Money All Over his Country."[20] Banknotes were first issued in Europe by Stockholms Banco in 1661, and were again also used alongside coins. The gold standard, a monetary system where the medium of exchange are paper notes that are convertible into pre-set, fixed quantities of gold, replaced the use of gold coins as currency in the 17th–19th centuries in Europe. These gold standard notes were made legal tender, and redemption into gold coins was discouraged. By the beginning of the 20th century almost all countries had adopted the gold standard, backing their legal tender notes with fixed amounts of gold. I created this video with the YouTube Video Editor (http://www.youtube.com/editor)
Views: 22 Sreenivas lingala
Anonymous Bitcoin - The New Standard of Truly Confidential Banking
 
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Join our community and step further into the project of Anonymous Bitcoin - The New Standard of Truly Confidential Banking! ############################################### About the project: ############################################### Anonymous Bitcoin is an ambitious project; our main goal is to deliver a cryptographic medium of exchange that enables seamless, highly private, secure, and “anonymous” transactions. Anonymous Bitcoin is not first to market. That has allowed us to analyze both the successes and failures of previous projects. Ultimately, our team strives to perfect the mistakes of our predecessors, bring down barriers to entry and deliver a truly Anonymous Bitcoin with additional features that will excite the community and contribute to a truly lasting economy. The only way to participate in this fork and receive ANON is by being in possession of the underlying BTC and ZCL cryptocurrencies. Hodlers paticipating in the ANON fork will receive 1:1 ratio on September 10, 2018. The circulating supply at the time of the fork will be about 24M, the max total supply of ANON will be 31.5M. A composite list of supporting exchanges will be announced by August 15, 2018. Multiple top five exchanges by total volume will be targeted for listing of both ZCL and ANON! ############################################### Social Media: ############################################### Website: https://www.anonymousbitcoin.io/ Twitter: https://twitter.com/ANON_BTC Telegram: https://t.me/anonymousbitcoin Discord: https://discordapp.com/invite/9XQMspU Reddit: https://www.reddit.com/r/AnonymousBitcoin/ Github: https://github.com/anonymousbitcoin Youtube: https://www.youtube.com/channel/UCU-BMMTH8z0ow0xHjWZHRUg LinkedIn: https://www.linkedin.com/company/anonymous-bitcoin/ _______________________________________________________________ A video made with Moovly, an easy and powerful online video animation tool. Try for free at https://www.moovly.com and create your own story with Moovly.