宋利芳《经济学专业英语教程（精编版）（第二版）》Unit 7.pptVIP

Unit 7Text: Money and Banking （货币与银行） 1. Key words2. What is money?3. The functions of money4. Characteristics of money5. Banks and bank deposits6. Bank lending and creation of credit7. Bank deposits and savings8. Questions notes and coinsBartered goodsmedium of exchangestore of valueliquid assethire purchasecredit cardpay the billbusiness transactiondeferred paymentpaper moneycommercial bankingidle depositsmake loansmake paymentredeemable notescheque accountinterest-bearing depositssavings accountbook entries1. Key words Money can be anything which is commonly offered or received for the sale of goods or to pay for services. Money can be any good or asset which is readily acceptable in a community in exchange for goods and services.2. What is money? 3.1 Medium of exchange3.2 Store of value3.3 Measure of value3.4 Standard of deferred payment3. The functions of money Money allows people to avoid the problem of the barter system by removing the need for two people to find each other when both want to exchange their goods for those of the other.3.1 Medium of exchange Money can be stored and spent later on.If prices remain stable, money is a good store of value because it is a liquid asset; that is, it can be used immediately if needed.3.2 Store of value Money is a convenient way to measure the value of goods. If everything has a price, people can compare the price of one good with another, and readily make choices on which they want to buy.3.3 Measure of value Deferred payment means that payment is to be made at a later date, or by installments over a period of time.If prices remain stable, money as a means of deferred payment works well.3.4 Standard of deferred payment 4.1 Divisibility4.2 Portability4.3 Durability4.4 Acceptability4. Characteristics of money Many goods used for barter cannot easily be divided into small units. Money in coin or paper form comes in a number of denominations of varying value, and can be used to buy large expensive items as