What you’ll learn to do: explain the types, characteristics, and functions of money

Traditionally when we think of money we immediately think of the paper bills in our wallet or the coins that are in our pockets. But money is much more than that, and how we define money determines where and how we use it to obtain the goods and services that businesses offer the consumer. Consider how far money has come since we first began creating villages and living within a societal structure. In the past (the very distance past), if you wanted shoes, you went to the shoemaker and traded him a chicken for shoes. Money has come a long way since then and is clearly a much more efficient way of transacting business than carrying around a coop full of chickens when you go shopping. Let’s look at what money is, the functions of money, and even what may be the future of money.

Learning Activities

The learning activities for this section include:

• Reading: The Functions of Money
• Video: What Is Money?
• Self Check: Money

Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.