Textbook Notes (368,558)
Canada (161,962)
Economics (294)
ECON 291 (14)
Chapter 7

Chapter 7 – Money, Assets and Prices

3 Pages
Unlock Document

ECON 291
Geoff Dunbar

Chapter 7Money Assets and PricesWhat is money Typically we think of money as dollarsBut in economics anything that can be used to buy goodsservices Historically beads shells fins gold silver and even cigarettes have been used as moneyFunctions of Money1Medium of exchangeCan be used to make paymentstransactionsWe no longer need to barterNo double coincidence of wants2Unit of accountMoney is the basic unit for measuring economic value ie prices are expressed in terms of moneyIn Canada wages assets values goods prices are expressed in dollars3Store of valueMoney is a way of holding wealth ie of saving for consumption in a later period Midterm 1 goes up to hereMeasuring MoneyDone using monetary aggregatesMany types of monetary aggregatesMobase moneycurrency in circulationM1narrow moneycurrency chequing account balances other chequable accountsM2M1savings deposits
More Less

Related notes for ECON 291

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.