Documents 31 Money, Banking, and Financial Institutions McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill...

Functions of Money Medium of exchange Used to buy/sell goods Unit of account Goods are valued in dollars Store of value A place to store wealth. LO1 31-* Money Definition…

Documents An Overview of the Monetary System

An Overview of the Monetary System Chapter 29 The Three Functions of Money Medium of exchange: an item buyers give to sellers when they want to purchase goods and services…