1. Learning Target: I can build a list of concepts in chapter 8.
Ch. 12 Tests
Ch. 8 Notes
Unit 2 Retakes (by end of tomorrow)
Agenda…
Textbook!
By the bell…

2. 3 Functions of Money Medium of Exchange Standard of Value
Legal tender
Standard of Value
Useful for comparison
Store of Value
Purchasing Power, Inflation

3. Six Characteristics of Money
Acceptability
Scarcity
Portability
Durability
Divisibility
Uniformity

4. Six Characteristics of Money
Acceptability – people must be willing to trade for it.
Salt: Used as Roman Military Salary
Scarcity – Cannot be too common or too rare.
Salt: Rare in some parts of the world, but has high demand…it’s very useful.

5. Six Characteristics of Money
Portability – Easy to carry
Salt: Not great in large amounts.
Durability – Can withstand being traded over and over
Salt: Long lasting, if kept dry

6. Six Characteristics of Money
Divisibility – Divide into smaller amounts
Salt: divisible down to the granules
Uniformity – Same characteristics for currency of same value
Salt: Pretty much the same in characteristics, and usefulness, from anywhere

7. M1 vs. M2

8. Credit Vs. Debit

9. Banking Services