Please enable JavaScript.
Coggle requires JavaScript to display documents.
Topic 3 - Coggle Diagram
Topic 3
What is counterfeiting?
Counterfeiting is when a person creates a fake version of a product to sell it as the actual product for profit.
For instance, I create a fake Xbox with terrible components for extremely cheap and then sell it to somebody who thinks I have the real Xbox for a larger sum of money.
These acts are both illegal and can get you fined, sued or even put in prison.
I could also create counterfeit money, and use it as normal money.
-
-
Money has 3 main purposes, what are they?
-
It maintains its value - there are no sudden spikes or drops in the value of money (a packet of crisps will cost £1 today and £1 tomorrow)
-
6 features of money
Not easily available (In order to maintain value, it has to be hard to get)
-
-
-
Easily recognisable (anyone who sees it knows that is money and it has value - unnegotiable how much it is worth.)
Long-Lasting (In order for the physical money not to break, it has to be long lasting in order to maintain its value.)
-
-