We earned about money and banking. Money are goods that can be accepted for exchanges and to pay off debts. Money has three functions. It's a standard of value, store of value, and the medium of exchange. Money also has many characteristics. It has to be difficult to be counterfeited and it has to be scarce. Banks make money by charging interests. The Fed can clear checks and supervises banks.
We watched a video called The Red Paperclip.
It's very helpful to lean banking and checking in this week.
ReplyDeleteLearning about banking is very important because we can actually use all the information we learn in the future!
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