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ADVISORY COUNCILS, FEDERAL RESERVE SYSTEM: Three support committees that provide feedback to the Board of Governors of the Federal Reserve System to assist in its assorted regulatory responsibilities, including Federal Advisory Council, Thrift Institutions Advisory Council, and Consumer Advisory Council. The Federal Advisory Council is a broad ranging council comprise of commercial bankers. The Thrift Institutions Advisory Council is comprised of representatives of thrift institutions. The Consumer Advisory Council is comprised of consumer credit representatives.
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Lesson 17: Money | Unit 2: More About Money
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Page: 7 of 25
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Another function of money is store of value.- It means that we retain the value, the satisfaction of wants and needs, provided by a good over a period of time.
Ways to store of value: - Buy a product and store it for a week.
- Buy a gift certificate and redeem it after a week.
- Buy another good, keep it for a week, sell it and then use this money to buy a product.
- Keep the money one week or then buy the good.
A potential problem: - If the price of the good rises money becomes a less effective means of storing value.
- Price inflation is the nemesis for the store of value function of money.
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CAPITALISM A type of economy, or economic system, based on--(1) private ownership of most resources, goods, and other assets; (2) freedom to generally use the privately-owned resources, goods, and other assets to get the most wages, rent, interest, and profit possible; and (3) a system of relatively competitive markets.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store hoping to buy either a replacement battery for your pocket calculator or a how-to book on home remodeling. Be on the lookout for strangers with large satchels of used undergarments.
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This isn't me! What am I?
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"The greatest things ever done on Earth have been done little by little. " -- William Jennings Bryan
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S
Supply
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