ECO 372 Week 3 DQ 1

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What is money? What is the purpose of money and the primary functions of money? By what process is new money "created" in the United States? Provide an example of a "non-conventional" form of money that meets the purposes and functions of money.

Response :


Money is defined as an asset that is moved quickly in exchange for another asset or another good. The purpose of money is to give people a unit of exchange of which there is a certain value set on it so that bartering is not a necessary part of an exchange. The primary functions of money are it is a medium of exchange, a unit of account, and a store of wealth.
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