Slide 1AP Economics Slide 2 Barter Economy-moneyless economy that relies on trade or barter Problems- products some people offer are not always acceptable or easy to divide…

Slide 1 CHAPTER 11 Money and Banking Slide 2 Section 1: The Evolution of Money Main Idea: money is any substance that functions as a medium of exchange, a measure of value,…

Slide 1 ANTOIN E. MURPHY – TRINITY COLLEGE DUBLIN Slide 2 2 Slide 3 John Law 1671-1729 Born in Edinburgh, the son of a goldsmith Brilliant mathematician at school Lives…

Money Its origin: Barter didn’t work, so money became a store of value. We all agree on the rules of the game (like monopoly), so we ‘buy in’ to the idea that a seemingly…

Chapter 11 â 12 Monetary Policy Chapter 11 Section 1 Chapter 12 Sections 1,2, 3 Chapter 11 Section 1 Explain the three functions of money. A. Barter Economy â Moneyless…