Moneyhastakenmanyforms.WhatismoneytodayWhat.pptVIP

Money has taken many forms. What is money today? What happens when the bank lends the money we’re deposited to someone else? How does the Bank of Canada influence the quantity of money? What happens when the Bank of Canada creates too much money? What is Money? Money is any commodity or token that is generally acceptable as a means of payment. A means of payment is a method of settling a debt. Money has three other functions: Medium of exchange Unit of account Store of value What is Money? Medium of Exchange A medium of exchange is an object that is generally accepted in exchange for goods