ASSIGNMENT 3: Money, foreign exchange and finance.





NAME: Cinthia Segura Pérez

NUA: 117494 


1.               How are money and currency defined?

Currency is a medium of exchange, a unit of account, portable, durable, and fungible.

Money also is a medium of exchange, a unit of account, portable, durable, and fungible, but add that is a store of value.



2.               What are the differences between currency and money? 

Currency is fungible and is a medium of exchange, a unit of account. Also, it´s portable, durable and divisible.

Money is all of those things plus a store of value over a long period of time.

3.               What are their most important characteristics?

I believe, they serve to interact in the market as medium of exchange, and store value.

4.               What is a Fiat currency?

A piece of paper that´s unbacked by anything. It´s just worthless paper but when give it the special sing and they have the cult meeting the federal reserves, it suddenly becomes currency.

5.               What are its characteristics?

It has a value in the federal reserve, is a medium of exchange and a unit of account.

6.               What is money and currency used for?

Currency is printing presses, and the paper money rolls off the printing presses and then give in the fiat designation which then makes the currency official.

Money is use to intermediate the exchange of goods and services. It is performing a function as a medium of exchange.

7.               What does “store of value” refer to?

The value of something without depreciation. Gold and silver are good stores of value because their shelf lives are essentially and perpetual.

8.               What was the currency used in the past?

Gold and silver

9.               What is the most beautiful way of money?

Gold because it can´t be increased and printed.

10.           What is a “solving system”?

The way of keeping governments under control using metals with the fiat currencies.

11.           What happens when governments expand the currency supplies?

Inflation. Prices rise.

12.           What is barter?

The exchange of one good for another when money did not exist

13.           What is Quantity of Easy? 

It is a term that is used to explain Currency creation.

14.           What is the tendency of QEs around the world?

Doing as insane deficit spending and expanding currency supplies. In some countries have a positive impact on the economies but in emerging economies the impact is mixed. This is a global phenomenon

Write a final reflection on the topic, mentioning what were the most important aspects you learned.

I was unaware of most of the concepts, but the one that surprised me was the meaning of Fiat Currency because I had an idea of what it was but now, I realize that they are reserves that generate value. I was also unaware of the meaning of money and currency, I thought they meant the same thing but now I know their differences.

Comentarios

  1. Judith G. Cardona21 de diciembre de 2021 a las 3:13 p.m.

    I can relate to now knowing the differences between money and currency before the assignment - bu once they were explained it is very clear how they differ.

    ResponderBorrar
  2. Cecilia Massat21 de diciembre de 2021 a las 6:52 p.m.

    As well as you, I was clueless on the difference between currency and money, but I think you made it clear in the first and third question. Currency does have a lot more weight in the market and we use it always because we can evaluate a lot of things, not just money, but the time we spent working or the goods we own. Thank you for sharing your thoughts c:

    ResponderBorrar
  3. Abril's Blog21 de diciembre de 2021 a las 10:50 p.m.

    I agree. Most of us did not know the differences between currency and money. I think it is a very interesting topic.

    ResponderBorrar
  4. Cesar Carreño22 de diciembre de 2021 a las 7:52 a.m.

    This was a great topic to study, it's weird to know that the money we use is not really backed by nothing it was mind-blowing for me.

    ResponderBorrar
  5. Daniela Rodríguez22 de diciembre de 2021 a las 8:32 p.m.

    It is an interesting topic. Some difficult to understand, but I think they are important. I am amazed how gold has been so important since ancient times

    ResponderBorrar

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