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The Nature and Functions of Money - Coggle Diagram
The Nature and Functions of Money
Definition & Forms of Money
Historical forms
beads
shells
cattle
gold
silver
Modern forms
paper bills
coins (currency)
digital money
Fiat money
No intrinsic value
backed by government decree
Functions of Money
Means of exchange
Store of value
Standard of value
Near Money & Related Concepts
Examples
Credit cards
stocks
bonds
insurance policies
Time deposits
Considered part of money supply
Money in Society
Determines economic value
market system
Reflects perceived job importance
salaries
Personal vs. monetary value
subjective beliefs