The Volgograd Academy of National Economy and Public

The Volgograd Academy of National Economy and Public Administration «Money» An`shakova Victoria Volgograd 2014

Contents: History of money Main functions of money Medium of exchange Unit of account Money is a store of value Standard of deferred payment Conclusion

History of money In different regions of the world used as money different things.

Medium of exchange Goods are traded directly or swapped for other goods.

Unit of account The unit of account is the unit in which prices are quoted and accounts are kept. In Britain for instance, prices are quoted in pounds sterling..

Money is a store of value ..for it can be used to make purchases in future. For money to be accepted in exchange, it has to be a store of value.

Standard of deferred payment When money is borrowed, the amount to be repaid next year is measured in unit of national currency, pounds of sterling for the United Kingdom

Conclusion Thus, the key feature of money is its use as a medium of exchange. For money to be used successfully as a means of exchange, it must be a store of value as well. And it is usually, though not always, convenient to make money the unit of account and standard of deferred payment.

Thank you for your attention!