money
commodity & repetitive
federal reserve system & US fiat money
D-Fed
100
What is money?
Anything that is widely accepted as a form of payment .
100
what is commodity?
it's an item that has value in and of it's self .
100
Who makes the coin currency ?
Federal Reserve System & U.S. Fiat Money .
100
What is the D-fed?
D-Fed prints the coin currency .
200
How did people pay for things before money?
they used to barter goods .
200
What is representative?
Does not have value on it's own .
200
What is the Federal Reserve System ?
it's the central bank of the U.S. , is charged by congress with maintaining stable prices .
200
Why is it important ?
It prints our money , without it we wouldn't have money .
300
3 uses of $ are?
medium of exchange unit of account store of value
300
1 example of commodity?
crude oil .
300
What is the purpose of the Federal Reserve System ?
To keep the economy safe & stable .
300
Who makes the paper currency ?
D-Fed .
400
what are the 6 characteristics of $?
durable portable divisible scarse uniform acceptable
400
What is the difference between commodity & representative ?
commodity; a commodity is an item that has value in & of itself . representative; representative money does not have value on it's own .
400
Why is it important that we have the Federal Reserve System & U.S. Fiat Money ?
To manage money
400
Does everyone in the world use money the same way ? Why or why not ?
yes bc we all use it to purchase things worldwide
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