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Legal tender, or narrow money (M0) is the cash created by a Central Bank by minting coins and printing banknotes. Bank money, or broad money (M1/M2) is the money created by private banks through the recording of loans as deposits of borrowing clients, with partial support indicated by the cash ratio. Currently, bank money is created as ...
The history of money is the development over time of systems for the exchange of goods and services. Money is a means of fulfilling these functions indirectly and in general rather than directly, as with barter. Money may take a physical form as in coins and notes, or may exist as a written or electronic account.
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 ...
Play money, toy money, faux paper money or formally ludic money is money that functions as a toy or a token in a game or when playing. [1] [2]: ...
Money creation, or money issuance, is the process by which the money supply of a country, or an economic or monetary region, [note 1] is increased. In most modern economies, money is created by both central banks and commercial banks. Money issued by central banks is a liability, typically called reserve deposits, and is only available for use ...
Old money is "the inherited wealth of established upper-class families (i.e. gentry, patriciate)" or "a person, family, or lineage possessing inherited wealth". [1] It is a social class of the rich who have been able to maintain their wealth over multiple generations, often referring to perceived members of the de facto aristocracy in societies that historically lack an officially established ...
kids + money, [1] a 2008 cinéma vérité documentary film, was directed by photographer/filmmaker Lauren Greenfield and produced by Evergreen Pictures. [2] The 32 minute film includes interviews with Los Angeles teenagers on the subject of money and how it affects their lives.
An allowance is an amount of money given or allotted usually at regular intervals for a specific purpose. [1] In the context of children, parents may provide an allowance (British English: pocket money) to their child for their miscellaneous personal spending. In the construction industry, an allowance may be an amount allocated to a specific ...