UNIT MoNe4Y AND EXCHANGE Evolution of Money Gee0 BC. >. Bester yslano loco BC =>. Physical ebjeck 806 > Paper Mencs| 110s irre Gold pa vietiw 1450s > Exedit cards 19.94. > Elechonic Meney 2004 jiu 7 money Definition of Money “Professor. D-H. elites defines thing 2 L bead goods “ox 4 Bis wi wccepled ih. ag lhice bunds of "tines Phils 4 RP Sif. Seligman agers —ruiney "one thing thal prowess | = a a : fina weonty money As_as = _- ‘aves = te tlistury cf Wray — cu —_ i alae depends evr the inortane that fe ie ee ee ce OT of aachange—, & uses a a. bawh, aude stowkoue @ for welll eeu al people te lade gpods cmd seis indie + Beko , people acquond ond _enchanged ae - : T at a Money to valuable m uath of acon ~@ soci, uceptad! standard by which Hairs ose puis 7 wt seth which peypmst % aueptad ‘he thansition prow. bucheung be Gaunog + Dartoring dso duet cof gpeds ancl, S sews ~ tA wine Th a fucility urhewe taswncst to tole a Tramsitvon tp Péter Curse « Bunks DIIaD | an ad a a cide pita Col be und Ke buye goods - chile Poypruels # the Ist } Goede f tio novel Lerms : Payments Gnd. wel 3 " joie Koh oles ~ eA Sy wreniy > nya | - SaFundions ol Hong bodwwward eeeaey Veteorace = shandatd unl “oh nuaowen oh —_ and _sevvien, eA fenanctal asseds ef: unk of \acvount . et tan be -disiaie. ink nile aw p = & DE i a5 eee ad cara =F fui i clefessed (iaadades Ga ci i ed gt : a oak Pi me ~eothenante af debt mente a only er with this uncer _3f Money : i a unl _ or “ink = this hited en eee fore hal jnsane, 5 Oh latewst, Se caution deposits ee: = mouy i genes clasp ad ee Stor a re the yeliab (ii)Store of value — 4s mest le. SpuaLe is oe bp site and to debreve 5 rea Money are 08a aka) 9 divie en 4 poadd fn diffeme —placs- 5 a Funchens & ee chens M 2 cobs Isleclns Pet patduala pre oe _ sis ef Credit - proviscon ok ga gig neha Cidik ia ¢ Asdutngs waded by bank oe of 1 deposits ag rae re at a aunen a hi7 7 Tr W)Distrbutun OF Socal incom- Notional income it the x Bey egale amount af goode ond veyvids produced ina County - ea NM bios) ineoms! uit Aintibuled anery Eo he Bul Justa 8 Race fathow capital ent epeen) —Dhe Anh for D) -froduction aa Cte ntact dks ks Se diddy 3 ~ from nabional income. } 7 + Balla nue. Leh stl be AListic buted faker a public, which Lia krowm.\ar _ incomes iN Glenual a ial ion MY - y loledn rp pe I eds ct can na : Bee = ' vn Wecitieegees baal = it is the highest panount eC1) Ackual_ Me x Money of Account Y “funding Sohn Keynes? Money 48 dist See ee mbna TCE STAT dt 2 bul_ mong rch a oul VIIa predim fh, enchon a Duco We od cba a rg wed fer afl pocyouerla. Meaare af value. Store of Vallee =Bacth Pen i Reon pocorn happen of Qeounk lo that in which, ~ cg an sal Lehre — wes = Ven ik In this “dorm oy Quon tk a Countay oT mapa oS [uve] Coowuadily Honey + face 2 ~ vielice H concn: Avenues Lr ws (qual te inkinsic value = FY- U the nomined value 3 7 cpt cae besten in th cond Y eG INT NK Ue warth 6 thet produ. vate falls abot he = resentative Money fk mane tho natis vshith ok yey tower Sats full — bode, mony le _ gag Wit I asforfeoe® Types of Money> q 7 Commawads. Lesser inbuinsic. value. ace at | a Convertible Mo y= Lb afore te those mi whic, AB uly is unde an ob Lige-Les 3 Thconvertible Lene) - are thie wtohich the Usain authouly “is pat und an obligation b 37° re inte commodity owl re g (iSMetablic Haan ¥ Paper Money. on the matecal Bu dooabsl eure 1 Cuseencis ov count cueicted using metals are \ Fit as metallic wore} yt cs whick are conskuclad, Using paper = are tabled oe res 7 Set road | it z Standard money — Ub it based. on ce coonmno dit Bak ie. RCS TR meee 1h Be wasurr for ther. Coma medaby wep _Motals-goldsiber, bronze , copper eles. si} B Token honey —is thal uni 6h waeenay whe 2 the f ae i lent intunsic. Valve Wn Fam 7 Gensas neigd Meche weil prespor de: Ne eg Indian Mufles, blu Dleslat. fot tevok cheques. wm Monsy — 1 thal fuenty, och, 5 pi Pas at duserves belunds 4b. The. = ic elt banks .Reeps.Auscwes in firms. af = toa Iv and dssuc tre Some , a cops! the public demand 4 tadian. 5 malas alc Atweiases 9 Gold cmd. Silver ne ; Convertible Paper Mo cam. be ene for standovd money = tha. demand 4 in She hale The ge qoverneount ae seitor: it nal otk ag a Ha onchanged died ot skamdand ran oh mmacae 9 = Stes lias Set wiilén is Hak oney ~ is bhak , lak Money ~ is atone which has fia value Move than inthnsic value. Thea, a ed aa i Tne Ths Money. annie Ener sn afu bodléal v0 ol landacd. mo, eg atl Pa : ~Curkin cies Suhts the wold ete Sat 3 Paper Money . Advantages and Disadvantages Advent Sl Disadventeges * “AGKIRY oes “convinien fae aaah be frm 9 Moneg. Any value ouctsicle the Letrnliy —H. Aonegeneous din_raling ig sib fui exheog 2 telaiticity - highly elastic ; an» fossebilelies / Ok be easily changed Geareble, burbs ele Dis highs # paper Monty Are | x fake notes , eget Adwentages te ere jan i \ Li) Legh tender worey > Optional we y 2 = osified, ates b cai a a pei 2 Legal tindw hey - Opteenal nde) a = ee ¥ hdayd | uk iw d by . qm aie se cece einer on_wrhelhsr the ere, As wade py ent S-debt. A it din dha BBL Ae e t= deesly — insucliot ibe ede a aad peeipl fede fena ial eee ff we it. ua eo tfanans i i th oh © aseplid be lagally note acteptid,.eg cheat, 9 oS s Fe 8 ffs x f “ir 0 on (ented os a tule oP some futine ebliga bens. Many Ce. categorued as short- tem j Must Com naenby. Stern tanaple._.0f- ousdit tou dhthe Cudik. Yaad. ised by books aed! PUMA sre ght dle | Digital Money is a. fom. ba tontayy sth , Aa fom $),. Money Ahab Also braun” 23: Gpheenanayy fer cast) eh oncney | virtual Aone ete 4: Crypte comtency, betteins Crypto wumenc ‘ “Satoshi Nakanwte” —betvein th a vittual menttay unit and there has ne_phyial neprrscntodion =hituin blockehacn ha dele pile thal cams the oud a all past: bettoin branvichisns yincladi The cealein § niw Bion units + Je is oflin Aoferred. fo a8 the ledger) He beteoin_sysem = bthwin blockchein consists 9 Qs Sequence Q. blocks shore dach block builds orn ite prealecsssins aml Contdins information Abowk Muu» frtrern. transactions =the time bebaen Bitcoin blocks is 10 minebas! — blo \ pining iit Permbssionless : —the lensersft Gnang hitcoin nuners ca Mat eutcAy pane tho. Acutues 0 Wock @ndabale ith ZA a valid finger pank adds At Ho hin ov hem eure copy 8p The’ Bétcotr blockchaia rer : T_ the biltoin syste, thanwclon Legeli ald} a quaanliad. using asgramelice Cuyp guphy. Thes Vo idea io based fre Using [aus de keys anats bing \ i and a ke : oe da 2 sitepe a pesuge phat fe deciyplid emly by turing ah otespanclirg B public bey his type Sl cin caagf boon 19 go Lacan a6 | psa WWW Wee ql we eee = > |: L nl applicabn. Ld ah ec i tgcat. tke. Bites petvotk allows addikenal Pamian bed. «.Banacli ' Smart wonctracti — They are Sof teu wnat § Bupasge sien SA oer (te0in. payretet be tne a abun horditun ts Mel ~The Ci uate Heltuot Us lurrenctlyg Hu dader awe the [eld & snask tonbiach DE iu based on plotkehain fiknhgy dnd. ptowedes a fl potict crypto asset, Called ether. a) 5 — Lyyple has 6 angele Linh. a = pe need. Oh. Miysical Contech 8 © thie a ho central authortly. 65. cleleuure thu = isan dite hacking’, double cog double Spocdling one Ale hively Las. dn. Cyp he= Be os bsbn Tadley Standards ha ee he ue ny cul pagubction or onde the: py : ales oud hagiltlns aa This ides in tow incl Met "Sf to (wostriunt 4 ode teers io “ly hl ea “Sandled lu tthe rl a a | ilsian / Coot Pari eee A Gold. Standard = when a Coundsy ny i FB sully Ainhsd te vl at ae ag an -tgiee mien thak they ton comet ther. PB sscney! inte pie fie _stop inthe gel Std ee dor golly aud thud plcce 4 wed de determine the =F cuveeneg (ail) abn Ai )Gi0td owrenry. /eoin Standard = This ia the eldest form _f monetary standard and io. alo # awa as tithodex /tradulioat geld gtanclead. B This was proruinue before! laf ain townbues i ani, “es perl UK en G meaty Under “this. wethoe Corns= a tae Made of pce geld ea fey WAIL, gold dure = (fil Bullen Sontiné A Siodard Ip Ha 3 stan dard 4 i sd sae vane geld cain Thay ince ies py tions instead.» Sb ld cons PN hae nl Unie a nig the Shia cous u Lv gue ee pink of nwated inte other tountias ® Thu entoonel value Sy the climactic Ti “fir hmind nos A fig Mik : neonctiry Stamdaid That rine pea thon the lorventional = gi dards. fists reoce. suitable lo the der dvclepe counties ee SiyGold Reserve Stomdad Te ures deweleped in ee vate. Anc 1 ti te & gold. for the cpl Nahi HO uuhenge atl tountwas started Bing dav-eloping ashangs” ne fund Je was successful ob the “ tone. AV Gili. Poach, Standard - i is "Imodean. versa | ido in gpl Randa cance dns ectam with the eg ment Oo IMP (14405 )- Under -this . prothal, ‘rt wawastor -Couniy! has to define the power” ey Viele SN thoitt | coos ‘ ‘ eel ie devas of. gous This eI I Pade dba detiinrine: the tuchange sate.the gol i fe: Handaid Aims at eturtining sable buchange ote without distubing the Aonvestic yp Menelaty -syslam Osfosfioza 5 ny ~Honskipiy Styrdaicl aaa is [se [fied a os Standgad [Pst fae Fe ae ng Faas ng er | fe Gita he Monskary hase Ah Sr eT an tums. Oh Some owe bronze, silver gad). Standard coins fer bansachens fee ed te we Untihe the 6r.throdox Jol slandads, the tountey Can ese any metals: | net Allic standard. Sieohaate lind refers { mone tau Mw _Monctay, wrt is _maden. teas Convertible ta only. one i 5 molal Bi) Bimelali. skandacd ( bintalliom)- monkauy la ufhich, ee oe i is tad 4pub sh conmutible wo tive mautals Flatives of Binnlallions ee om two metals, gurerally silver and fs ped lil aepldelin Thome 2, ee nuolals oe ~ . : ria sa iii Ja iain ow he As poe Wee inuport ands eapork ay both au Walid of BirestalLism =| __" & Convenient * place stabil # bn stedbdlity 1% qui W : me ns Guilative acti doles « N the costa monetary Stan daack — Se Guneshand Lav: < sf E E tee aeaw= Papen standaads . Abbers ta monetary standard an whidh incenvertible (povperrvcaneag Urtulates as Unlined “Hegat finder. The stamdard Money 1h Ses Sy pecper and ib sees as a standasd many a an - fs a 4 payment No geld. AbseLves Ane. Features ob Sn f fepor Money eaualates as_untiauted ‘eS ‘he ta 4 ony lk sapinéch an, tearonat OF tie = tek os BB se vlad vat Sie Hany le * slandarde ia oe i Meus “of. Papo Slamdasae bisa t ee nie tenslit best ecko Pease way a aod Q mutes = ss A templet — 44 dase hot * webu during pasageniion felis fi ee et pee ae oe. » Aepulate cacchange jake BIs Dena «paper Starndaacls rabsenie 4s er worst ngage oy nels maaragemente Gresham Law—thos ventept stata that abun goo dot bad sey ou agit in islet, eat a lander bad rroneq donde eaten out Calebion. This dreylien Loss eee h Suro ae mores amas ide ¢ ts (ow ent usto dnc: by Sol theme Gresham sho was Hw peer advo. be Queen Cdebtth an the 16 Cevtuny. etfosl2e? -~ . Fania Systm. Hea a sce 8 ieattucins Suth cu_commenial banks) smiurance ns Stock. exchange Financial § Cot byes ci Lemnénal amd “glishal re \ Dffdunt svponends S, donancial spstem._ inchedes * Ct theo Quwwddddw v 1) DUPeenk ek 1 tay Ci) Financial thee poet Gi) Finandal instununt (v) Finance Sorvicos W) Finandal fesets bd 2 uv(w Money fhe Financial Market - de puovides open anol Anguleled a ee fer Companies Te acccsmubabs subsiabad & caplal This _pocess agus Lhoughs | ae and bond market te ado allows jody = chgzagejahclg tothon Bisucbtie eughe ted ial = a Accu disks Absoughe posdfale manage Functions /Role_ a, | finan dal Markel

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