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June 17, 2018 

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LIFESTYLES: The opinions, activities, and interests that an individual expresses through his or her pattern of living. People tend to spend their time in certain ways and with certain types of people. These tendencies of interactions with others and utilization of time strongly affect many components of consumer behavior and subsequent decisions to purchase or not. Lifestyle patterns influence product needs, brand preferences, where people shop, and types of media that are effective to reach consumers.

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Lesson Contents
Unit 1: Money Basics
  • What It Is
  • THE Medium
  • Unit 1 Summary
  • Unit 2: More About Money
  • Functions
  • Medium of Exchange
  • Measure of Value
  • Store of Value
  • Standard of Deferred Payment
  • Characteristics
  • Unit 2 Summary
  • Unit 3: Monetary Aggregates
  • M1
  • M2
  • Near Monies
  • M3
  • L
  • Unit 3 Summary
  • Unit 4: Money's History
  • Barter
  • Commodity Money
  • Metal Commodity Money
  • Fiat Money
  • Money
  • Unit 4 Summary
  • Unit 5: Scarcity
  • Efficiency
  • Monetary Policy
  • Unit 5 Summary
  • Course Home
    Money

    In this lesson, we examine my favorite economic topic -- money. In addition to being the root of all evil, money is a critical component of the macroeconomy. The basic rule is that too much money causes inflation and too little money causes unemployment. To lay the foundation for further study of money and the macroeconomy, this lesson presents the money basics, including what money is, what money does, how money is measured, and how money evolved to it's current format.

    • The first unit begins this lesson with a look at what money is (hint: anything that people use for exchanges), and money's role as a medium of exchange.
    • The main topics of the second unit are the four functions of money and the four characteristics of money.
    • The third unit then examines and compares the monetary aggregates, the official measures of money tracked by the U.S. government.
    • The history of money is the prime topic of the fourth unit, with a look at how modern fiat money evolved from self sufficiency, barter, and commodity money.
    • The fifth unit then ponders the connection between money, efficiency, and the scarcity problem, with an eye toward the use of monetary policies.

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    AVERAGE VARIABLE COST

    Total variable cost per unit of output, found by dividing total variable cost by the quantity of output. When compared with price (per unit revenue), average variable cost (AVC) indicates whether or not a profit-maximizing firm should shut down production in the short run. Average variable cost is one of three average cost concepts important to short-run production analysis. The other two are average total cost and average fixed cost. A related concept is marginal cost.

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    APLS

    BLACK DISMALAPOD
    [What's This?]

    Today, you are likely to spend a great deal of time wandering around the shopping mall seeking to buy either a 50 foot extension cord or a combination CD player, clock radio, and telephone (with answering machine). Be on the lookout for the last item on a shelf.
    Your Complete Scope

    This isn't me! What am I?

    Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
    "The secret of getting ahead is getting started. The secret of getting started is breaking your complex, overwhelming tasks into small manageable tasks, and then starting on the first one. "

    -- Mark Twain, writer

    DOC
    Department of Commerce
    A PEDestrian's Guide
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