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GRAPH: A picture, image, or diagram that is used to display information. Graphs are most commonly used in the economics to depict relations between two variables, that is a two-dimensional graph. The market diagram is perhaps the most noted graph used in economics. This graph reflects the market price on the vertical axis and the quantity exchanged on the horizontal axis. The two key relations depicted on the graph are the demand curve, which is an inverse relation between price and quantity, and the supply curve, which is a direct relation between price and quantity.
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Lesson 17: Money | Unit 4: Money's History
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Page: 21 of 25
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Topic:
Electronic Money
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Computers reduce the use of paper currency and checks.- Electronic money is another logical step in the historical progression of money.
- Modern checking accounts are little more than digital information.
- The trend is toward accessing information directly with computers, including ATM machines, point-of-purchase terminals in stores, and home computers.
Electronic money: - It fits two of the four characteristics of money: easy to transport and completely divisible.
- The other two characteristics raise questions:
- Counterfeitable: Electronic money could be the easiest or the hardest money to counterfeit.
- Durability: This depends on the stability of the government and the banking system.
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DEMAND SPACE The area on or beneath a demand curve that indicates all possible price-quantity combinations acceptable to buyers. Buyers are willing and able to purchase any price-quantity combination that places them on or below the demand curve, but not above.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store trying to buy either a travel case for you toothbrush or a looseleaf notebook binder. Be on the lookout for telephone calls from long-lost relatives.
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This isn't me! What am I?
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"Inside the ring or out, ain't nothing wrong with going down. It's staying down that's wrong. " -- Muhammad Ali
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TIBOR
Tokyo Interbank Offered Rate (Japan)
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