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Ms Hart

on 16 October 2012

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Transcript of Money!

money: anything that serves as a medium of exchange, measure of value, & store of value Different countries have different money.
Some of it is worth more than others. Money as a store of value. That just means money keeps its value if you decide to store it. inflation: sometimes in an economy prices rise quickly Currency Money money is more than just coins and bills without money people get goods & services through barter. barter is basically trading info adapted from PCI Economics workbook Money as a measure of value value shows how much something's worth you can use the dollar amount to compare the value of goods random fact: in ancient Rome salt was so valuable that soldiers were paid in salt. it was called "salarium" which is where our word "salary" comes from If you want to save up for something, you can store the money and it still will keep its value but there's 1 exception then money is not as valuable because it cannot buy as much example: in the 1950s it cost $1 to go to a movie
today it costs $10! currency is the name for paper bills & coins 4 characteristics of money 1. must be portable
2. must be durable (has to last)
3. must be divisible (so you can get change back)
4. must be limited in availability http://teachertube.com/viewVideo.php?video_id=247263&title=Field_Trip_to_the_Money_Factory when you switch from 1 type of money to another it is called exchanging currency not everyone uses American dollars & cents if it's worth more it usually costs more! Barter is exchange of 1 set of goods or services for another. inflation often happens during an economic depression which makes people poorer
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