Documents Money and Banking Lecture 03. Review of the Previous Lecture Five Core Principles of Money and...

Slide 1 Money and Banking Lecture 03 Slide 2 Review of the Previous Lecture Five Core Principles of Money and Banking Time has Value Risk Requires Compensation Information…

Documents Money Functions of money –Medium of exchange –Unit of account –Store of value Flavors of money...

Slide 1 Money Functions of money –Medium of exchange –Unit of account –Store of value Flavors of money –Commodity money –Banknotes … backed by gold or silver…