UNIT 6

Money: - a commodity accepted by general consent as a medium of economic

exchange
- It is the medium in which prices and values are expressed
- It circulates from person to person and country to country, then
facilitating trade, and it is the principal measure of wealth.

The function of money:

- A medium of Exchange: anything that is widely accepted in payment for
goods and services and in settlement of debts. It is used to pay for goods
and settle debts
- A measure of value: Money is used to measure the value of goods offered
in the market. Money measures value in its units of accounts. The unit of
account is the unit in which prices are quoted and account are kept.
- A Store of value
- A Standard of Deferred(Hoãn) Payments
Types of Money:
- Commodity Money: medium of economic exchange, the value of
commodity money is about equal to the value of the material contained
in it
- Token Money: Means of payment, value of token money exceeds the cost
of production.
COMPREHENSION QUESTIONS
1. - a commodity accepted by general consent as a medium of economic
exchange
- It is the medium in which prices and values are expressed.
- It circulates from person to person and country to country, then
facilitating trade, and it is the principal measure of wealth.
2. - A medium of Exchange
- A measure of value
- A Store of value.
- A Standard of Deferred(Hoãn) Payments
3. anything that is widely accepted in payment for goods and services and in
settlement of debts.
4. Money is used to pay for goods and settle debts.
5. - Money is used to measure the value of goods offered in the market.
- Money can be used to make purchases in the future.
- When you buy something but do not pay for it immediately, your payment
is expressed in terms of money to be paid in the future.
6.
7. - Commodity Money
- Token Money
8. Banknotes

NOW account:TK rút tiền khả nhượng

A share draft account: TK hối phiếu cổ phần

PREVIEW
1.E
2.G
3.C
4.F
5.A
6.I
7.D
8.J
9.B
10.H