What's it: Fiat money is a currency with no intrinsic value but is a legal tender in an economy. An example of fiat money is paper money. The face value of fiat money is what you see, and it appears on the paper. Meanwhile, its real value is how
Money
Gold Standard: Pros, Cons, & History (Why It Ended, Is it Coming Back?)
What's it: A gold standard is a monetary system in which the government pegs the domestic currency to gold. Under this system, the face value of your money is equivalent to the gold you will get when you exchange it. So, the government agreed to
Purchasing Power of Money Explained: How Much You Can Buy (Inflation’s Impact)
What's it: The purchasing power of money is a currency's ability to convert it to goods and services. In other words, it is the conversion rate of money towards goods and services. Another term for the purchasing power of money is the real value of
Money Supply: Impacting Inflation and Growth (Measures, Components, Impacts)
Money supply is the aggregate amount of money circulating in the economy. Its measures vary among countries and typically include cash, coins, and balances in current and savings accounts.Imagine it as the lifeblood of the economy, constantly
Money: Functions, Types, Demand & Supply
What's it: Money is everything we use or accept widely as a means of payment for goods and services, including coins and banknotes. It also functions as a unit of account and a store of value. It replaces barter payments in the modern