CRASH COURSE ECONOMICS: Money and Finance
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Economics all comes down to trading things you
•
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For most transactions we use money, which is a way more
business
Money's 3 main purpose:
for things you
way of doing
• Technically,
is anything used as a medium of exchange
Today money is moved around
• An example of digital money is
•
it is not physical, it is,
Economist Milton Freidman said, "The pieces of green paper have value because people
think they have
• What 3 groups make up the "financial system"?
• The financial system is a network of,
that brings lender and borrowers together
• 3 ways lenders and borrowers exchange money is...
and
• Banks accumulate small deposits from thousands of people and use that to make
•All of us are
and
at some point in our lives