Intro to Business › Section O · Money and financial institutions › Topic O.1
What money is and does
Every business prices its goods, pays its staff and holds reserves in money, yet most of that money is not notes and coins at all. Knowing what money is, what it does and how it is measured explains why banks and the Federal Reserve matter so much to firms.
In this topic
- Money in daily business
- Defining money, and life without it
- What makes good money
- The four functions of money
- Worked example: the café's money
- Commodity money and fiat money
- Measuring the money supply
- Worked example: a firm's money
- How big is the money supply?
- Cards and apps are not money
- Common mistakes to avoid
- Key takeaways
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