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CHAPTER 1: WHAT IS MONEY? - Coggle Diagram
CHAPTER 1: WHAT IS MONEY?
MEANING
Accepted in payment
Services.
Goods.
Debts
A rather broad definition
Different from weath and income
FUNCTION
Medium of Exchange
Unit of Account
Store of Value
MEASURING MONEY
M1
Currency
Traveler’s checks
Demand deposits
Other checkable deposits
M2
M1
Savings deposits and
money market deposit accounts
Small denomination time deposits
Money market mutual fund shares
M1 and M2 can move in different directions
in the short run
PAYMENTS SYSTEM
Commodity Money
Fiat Money
Checks
Electronic Payment
Debit card
Stored-value card (smart card)
E-cash