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Money

 Money

What is money?


Money is an object that is accepted by the general public as a medium of exchange in economic activities. In traditional economics, money is defined as a medium of exchange. Meanwhile, in modern economics, money has a broader meaning. Money is accepted as a means of payment for buying and selling transactions for goods and services, as well as wealth or other valuable assets, and also as a means of paying debts.

If judging from history, at first the people did not know the barter system because everyone met their needs with their own efforts. However, as time goes by, human needs increase so that what they produce on their own is not enough. To be able to meet this need, they are looking for people who are willing to exchange the goods they have for the desired goods. A barter system emerged where transactions were carried out by exchanging goods between individuals.

After that, several alternative goods emerged that were used as a medium of exchange, which were generally accepted objects, the selected objects were of high value (difficult to obtain or had magical value), or objects that became primary needs. Then metal emerged as the next medium of exchange that was popular with the general public because it had high value, was durable, easy to carry, and easily broken without reducing value. Until finally, paper money appeared because the use of coins was considered difficult for transactions of large value.


Money Function

Money Original Functions:

  1. Money as a medium of exchange (medium of change). Transactions can be carried out without the need to exchange goods, but only by using money as a medium of exchange.
  2. Money as a unit of account. Money can show the value of goods or services rendered, show the value of wealth, and calculate the amount of the loan.
  3. Money as a means of storing value (currency). In this case, money can be used to transfer purchasing power from the present to the future.


Money Derivative Functions:

  1. Money as a legal tender for transactions.
  2. Money as a means of paying debts.
  3. Money as a means of hoarding wealth.
  4. Money as a means of transferring wealth.
  5. Money as a means of driving economic activity.

which of these forms of money do you use most often? why?

    The forms of money that I use are currency, demand deposits, and quasi money. because I think it is easy to use and this type of money circulates in my society. most people also often use this type of money.




how many different currencies can you name? which countries are they from?

    there are so many and it depends on each country it is usually different and there are also countries that have the same currency but during my experience the difference between the Indonesian and Malaysian currencies is the Indonesian rupiah and the Malaysian ringgit. if exchanged with a different nominal.




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