Class Notes (835,573)
Canada (509,252)
Economics (1,617)
ECON 1BB3 (535)
Lecture

lecture 11

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Department
Economics
Course
ECON 1BB3
Professor
Bridget O' Shaughnessy
Semester
Winter

Description
Is my MasterCard an assetMoneyy an asset regularly used to buy goods and services y money has 3 functions 1 Medium of exchange 2 Unit of account 3 Store of value Liquidity y the ease with which an asset can be converted into the economys medium of exchange y when prices rise the value of money falls Which lists ranks assets from most to least liquid y currency stocks fine artCommodity vs fiat moneyy commodity moneymoney that takes the form
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