Money!

Now last week we talked a lot about GDP and different types of ways to measure a country's standard of living. Until the last day, which was Friday, we started to talk a little about money. Money seems like an interesting topic because we use it in our every day lives, and use it for many things.

You may ask what is money? Money is the means of exchange. With money someone can trade their own goods for what they want. It seems like money is simple and we know the basics of what it is and does, but it hasn't always been so easy to understand.

It seems simple now that money is the medium of exchange, because everyone wants money and will trade with you for a certain price. Back in the olden days money wasn't exchanged for trade, but other goods and services were. That wasn't very efficient because you would have to find exactly the right person who wanted what you were trading and had what you wanted. Since we just trade with money now, it makes it easy for everyone to trade and to keep on trading since money never expires. Money also has a set value, therefore when a good or service is priced you are able to tell how good that product is for the price it is at. There is no confusion or having to argue over the price, once the price is set that's what it is and if you want it badly you will pay for it.

There are also different types of currencies so money can be used in different countries. Each country has their own currency, which makes them unique in a way. Even though there are different currencies money still has the same type of value. Now sure each currency is worth more or less than another, but it still has the same value when you want to buy, sell, or trade something.

Everyone wants money and wants a lot of it, there's people that work long and hard for their money but there are also people who scam there way to get to the top and be rich. People do illegal things to gain the amount of money they want. For example like Connie mentioned in her presentation last week people can get scammed or be the ones who are the scammers by a ponzie scheme, or deal drugs, and even counterfeit bills. With the new Canadian bills we have it is hard for people to counterfeit them now. If you see in the picture below there are many things that prevent this from happening. 

There are pros and cons to money as you can see but in the end everyone does need money to have a well-balanced life and to keep the economy running. As long as people learn to earn money the proper way and not cheat the system then everything will be balanced in a way.


https://www.youtube.com/watch?v=3PP2j60LvjU

Works Cited

"Functions of Money." Functions of Money. N.p., n.d. Web. 22 Feb. 2015. 

"What Is Money?" Economics and Liberty. N.p., 28 Oct. 2010. Web. 22 Feb. 2015.