Money
• What is it?• Why do we have it?• What do we do with it?• How does it help our economy?• Does it grow on trees?• How does it differ from country to country?• What can you learn from examining
currencies?
Money
• Money is anything widely accepted as final payment for goods and services.
• Money makes trading easier by replacing barter with transactions involving currency, coins, or checks.
• People consume goods and services, not money; money is useful primarily because it can be used to buy goods and services.
Money
• Producers use natural resources, human resources, and capital goods, (not money) to make goods and services.
• Most countries create their own currency for use as money.
• Money encourages specialization by decreasing the costs for exchange.
Functions of Money
• Money serves as a medium of exchange by making trading easier. It replaces barter with transactions involving currency, coins, or checks.
• As a store of value, money makes it easier for people to save and defer consumption until the future.
• As a unit of account or measure, money is used to compare the market value of different goods and services.
Characteristics of Money
• Durable
• Easily divided
• Easy to carry
• Widely accepted
• Relatively scarce
1 Peso Front
1 Peso
1 Peso Back
5 Peso
5 Peso Front 6
9
5 Peso Back 69
5 P
eso
Fro
nt
5 Peso Back
10 New Peso 96 Front
10 New Peso 96 Back
10 Peso
10 Peso Front
10 Peso Back
10 Peso Front 69
10 Peso Back 69
20 Peso
Front
Back
Back 2
Back of Peso
Front of Peso
50 Peso
50 Peso 98 Back
50 Peso 98 Front
50 Peso B Front
50 Peso B Back
50
Peso
Front
197350 Peso Back 63
100 Peso
100 New Peso 92
100 New Peso 92 Back
100 Peso Back100 Peso Front
100 Peso Back 78
100 Peso Front 78
500 Peso
500 Peso Back
500 Peso Front
1000 Peso
1000 Peso Back
1000 Peso Front
2000 Peso
2000 Peso Back 84
2000 Peso Front 84