Money, Banking and the central Banking system - the meaning of money - types of money
9 important questions on Money, Banking and the central Banking system - the meaning of money - types of money
What do we call a medium of exchange that is a good? What are 3 examples? And what defines its value?
like Gold, or Silver, or Salt
it has an Essential value
What do we mean when we say alternative uses gave commodity money more value independent of its role as a medium of exchange?
What was the paper money that consisted of notes issued by privately owned banks? And what did they promise?
they promised to exchange their notes for gold or silver coins on demand
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
For my 1st exam I got a C. Then, I started looking for ways to learn better and I came across Study Smart. Since then I have scored a A+, A, A- and another A. I highly recommend it to everyone who wants to hear it. I am so happy with it!!
I was struggling to finish all my first-year subjects for 3 years. Then I discovered Study Smart, which helped me to finish all of them within 3 months.
Because of StudySmart, things are going well in many ways. Before, I always had study stress and no time for anything. Now I feel calm and confident (because of the program). I used to score a B, now I usually score an A or A+.
Hey Chris, I really want to thank you very much for developing the platform, I usually got around C for my exams, now I scored an A+, an A and a A- !!
Since using Study Smart, my average has increased significantly. I even completed a statistics course with a A+ while I'm bad at statistics. I took on extra courses this year, because of Study Smart. Thanks so much!
Ever since I started studying with StudySmart I passed all my exams !!! No more re-sits!! At first, I was happy with a pass and now I only get good grades. Many thanks!
I aced all the courses I studied with Study Smart. For law, I first scored a D, and now an A! I’m 100% sure that I’ll pass all the courses I study with Study Smart.
I always thought I studied well. My grades were fine. I could never have imagined that applying these study skills would have such a huge and direct impact on my grades, my speed and the pleasure I have in learning.
For the first time, I finally feel totally confident about the way I learn. I have the perfect overview and make great progress in terms of speed and the grades I get. Thanks, Chris!
I immediately started to enjoy learning again, and my grades soared. All of a sudden, everything went better. I highly recommend Study Smart to all students..
Being able to create my materials online made the process of studying so much smoother and quicker. I no longer have to spend a huge amount of my time on creating my summaries.
At first, my notes were a mess. Now I use Study Smart to take my notes in a perfectly structured way. It helps me to save a lot of time and do other things I enjoy.
Students that study with Study Smart get better grades. The system applies all the learning methods in such a way that both well-performing students and students who struggle perform much better.
Hi Chris, I would like to thank you very much. Last year I scored C on a course, and this year I got an A+ thanks to your method! Thank you very much!
The largest effect is that my child is more enthusiastic about school! Every parent wants their children to be happy at school, Study Smart made it happen.
In high school, I failed several exams, and that has really changed now. I actually needed this tool very much back then. Since I started studying with StudySmart, I haven't had any D's. My average score is now an A and those are results I would have never had in the past
With my old method, I passed only 3 out of 8 courses. Since I started taking my notes digitally in Study Smart, I have passed all my courses on the first try. For me, StudySmart takes away the stress of wondering if I will pass or not.
Thanks to StudySmart, I passed all my exams, and with better grades than before! On top of that, I have mastered a very good study method now, which I am confident will help me earn my degree.
What do we call the medium of exchange that has NO essential value whose ultimate value was guaranteed by a Promise that it could always be converted into valuable goods on demand?
What are the 2 advantages of commodity backed money over simple commodity money? How do we know this advantage works?
- It tied up fewer valuable resources, so that the banks only need to keep some gold or silver on hand to satisfy the depositors, and could use the rest for investment in order to achieve gains from trade
- they reduced the amount of real resources use by society to make transactions and provides the functions of money that is more convenient
- Because in a normal day only a fraction on its paper notes are redeemed
What do we call the money whose value derives entirely from its official status as a means of exchange? Why is it trusted and accepted?
it is trusted because it is a government fiat or a policy declared by the government
What are the two advantages of fiat money
- Creating fiat money does not use up any real resources beyond the paper it is printed on
- the supply of money can be adjusted based on the needs of the economy, instead of being determined by the amount of gold and sliver available
What are the disadvantages of fiat money? What does that mean?
printing fake money
What is the risk associated with the government increasing money supply?
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
