Search results
Results from the WOW.Com Content Network
A currency refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. [1] [2] A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation. [3]
The alternative to a commodity money system is fiat money which is defined by a central bank and government law as legal tender even if it has no intrinsic value. Originally fiat money was paper currency or base metal coinage, but in modern economies it mainly exists as data such as bank balances and records of credit or debit card purchases, [3] and the fraction that exists as notes and coins ...
A currency [a] is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. [1] [2] A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state. [3]
In other words, financial systems can be known wherever there exists the exchange of a financial medium (money) while there is a reallocation of funds into needy areas (financial markets, business firms, banks) to utilize the potential of ideal money and place it in use to get benefits out of it. This whole mechanism is known as a financial system.
Monetary economics is the branch of economics that studies the different theories of money: it provides a framework for analyzing money and considers its functions ( as medium of exchange, store of value, and unit of account), and it considers how money can gain acceptance purely because of its convenience as a public good. [1]
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
If you're using an older or outdated browser, such as Internet Explorer, you may need to access AOL Mail from a different browser. If you don't have an updated or supported browser installed on your computer, you'll need to update your existing browser or download a new one. Check your display name:
The summary is an example of social narrative that I created using microsoft word, adobe acrobat, and saving it as JPEG for a high quality image. The sight that the images were obtained from allows use of the graphics for editorial, educational, commercial and/or personal projects. The title and the words I have designed myself.