| Description: | Money Images |
| Category | Money Bank Note |
| Image Filesize | 109.9 KB |
| Date: | 23.04.2009 20:35 |
| Last view date | 23.05.2012 08:13 |
| Last view user | Guest |
| Hits: | 4963 |
| Downloads: | 111 |
| Rating: | 5.00 (1Vote(s)) |
| File size: | 109.9 KB |
| Added by: | admin |
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Circulating currencies
Community currencies
Medieval currencies
Modern currencies
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply. The other part of a nation's money supply consists of bank deposits (sometimes called deposit money), ownership of which can be transferred by means of cheques, debit cards, or other forms of money transfer. Deposit money and currency are money in the sense that both are acceptable as a means of payment.[1]
Direct exchange of commodities such as precious metals, furs, grain, etc. in early human societies lead to the first money proper in early civilizations. Until modern times, precious metals such as gold or silver typically were used to retain the commodity nature of the store of value function of money. However, nearly all contemporary monetary systems are based on fiat money. Usually, a government declares its currency (including notes and coins issued by the central bank) to be legal tender, making it unlawful to not accept it as a means of repayment for all debts, public and private.[2][3] In major modern economies such as those of the United States or the Euro Zone, most money is electronic, but the "currency" of these polities may, depending on context, include all money or just specie.
Source: Wikipedia
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