Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
¶ … Money Its Value?
Using objects such as shells, coins, and other things of value to a community or individual has been practiced for thousand of years. If a close enough look could be taken, spending "money" probably started with Adam and Eve. When this exchange of tokens of some sort takes place, the tokens acquire a worth and enable the spender to obtain goods or services.
Money is defined as, "any definite or indefinite object which has value to both parties involved in the transaction." (Webster's New World Dictionary, 2nd College Edition).
Many different goods have been used as money throughout history. Over the centuries, only two commodities, gold and silver, have emerged as money in the free competition of the market, and have displaced the other commodities. In a free market, the medium of exchange is developed by people and their economic interactions. This is what establishes what money is. It is not established by a government calling bits of paper "money." A most important truth is thus established, MONEY IS A COMMODITY! "Learning this simple lesson is one of the world's most important tasks. So often have people talked about money as something much more or less than this. Money is not an abstract unit of account, divorceable from a concrete good; it is not a useless...
It is simply a commodity. It differs from other commodities in being demanded mainly as a medium of exchange." (Morgan, 2002).
The shape of the money unit makes no difference. For example, if copper is used for money, then all copper is money, whether it is a pipe, chunk, bar, coin, or picture frame. This is not to say that some shapes are not more convenient than others. The free market will determine if a coin is to carry a premium over another form of the same metal.
Money is used as a medium of exchange. Whatever is being used for currency in the society being studied has a worth which was placed upon it by the society's members. This exchanging money for goods or services is different from bartering. Bartering involves equal amounts of value of work or goods on both sides of the transaction.
In most cases, the substance used for money had value because of its scarcity, difficulty to obtain, or uniqueness. Gold is mentioned first in the Bible. Abraham "counted out 400 shekels of silver to pay for his wife's burial place.
Through the ages, three metals have a history of monetary usage - gold, silver, and copper; none of which are easily obtainable in nature…
Rock 'N Roll Music - the Diary of Youth Rock n' roll is best described as a "hybrid of many musical styles: white country and western, black guitar blues and rhythm and blues, and both black and white gospel music." (De Curtis) Rock ' roll began in the early 1950's as a dancing music strictly for teenagers and became known in the 1960's as simply rock music. This was because rock no
Values and Morals in the Accounting Industry The important questions to be addressed are taken from the "…business ethics/corporate social responsibility literature, oriented towards business enterprises but also of relevance to professional bodies: whether being ethical 'pays' in financial terms; and whether formal codes are useful in promoting ethical behavior…" (Cowton, 2009, p. 177). Accountants are charged with carrying out ethical and moral decisions in their everyday work, but judging from some
Offenders here might physically transport cash to those countries in small amounts that will not violate customs regulations. However, this method is not viable for transferring large amounts of money. Very large amounts of money can be informally transferred through a network of bookees across a number of different countries. Such bookees possess or have access to large amounts of cash. Bookees in the destination country can disburse money to
Values Portrayed in Popular Music: Argumentative Essay The content or meaning of the words accompanying today's popular music is such that serves to define, direct, inform and ultimately bring about cohesion within society among various views providing a balanced view of the world inclusive of the polar opposites and everything ranging between the two. Generally, the individual given proper guidance from the authority figures in their lives including parents and teachers,
Money Train Scenario Reserve requirements affect the amount of money in the banking system. My actions will increase the amount of money in the banking system. This means that banks can lend this money, which should increase the amount of economic activity. Under this scenario, increased growth will offset the negative impacts we are seeing. Reserve requirements are a good tool to use when the economy will benefit from increased investment. REDUCE
Money Interest Rates important individuals businesses making decisions finance purchases. The articles deal assessing conditions finance purchases important aspects policy. Allen, Bruce. Interest Rates The high unemployment and inflation rates are some of the most important factors that threaten to affect the stability of the U.S. economy. As a consequence, the Federal Reserve is forced to orient its strategy towards reducing the money supply. There are several methods and tools that the