Functions and properties of money
Topic 1 · 16 cards
Functions and properties of money
Functions of money, acceptance, scarcity, and basic monetary properties.
Card 1 · Explorer
You sell apples but want to buy shoes. How does money help you make the exchange?
Card 2 · Explorer
Why is money especially useful in a society where people specialize in different kinds of work?
Card 3 · Explorer
What are the three main functions of money?
Card 4 · Explorer
What is credit?
Card 5 · Explorer
A loaf of bread costs 2 euros and a lunch costs 6 euros. What does pricing both in the same unit allow you to do?
Card 6 · Explorer
What is a store of value?
Card 7 · Navigator
Why is a valuable gold coin of limited use for payments if hardly anyone accepts it?
Card 8 · Navigator
What can happen when the money supply expands?
Card 9 · Navigator
Why should good money be divisible?
Card 10 · Navigator
Which properties make money easy to store and carry?
Card 11 · Navigator
How can you check whether money is genuine?
Card 12 · Explorer
How does a person decide what to buy?
Card 13 · Captain
Which statement most accurately distinguishes money, currency and an asset?
Card 14 · Navigator
How are market prices formed?
Card 15 · Navigator
What do prices in a free market tell us?
Card 16 · Navigator