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Business Environment by A. C. Fernando

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MONEY: FUNCTIONS AND VALUE

In this chapter, we examine the evolution and functions of money, the qualities of good money, the systems of note issue, kinds of money, Gresham's law, the value of money, changes in the supply of money, relation between the supply of money and price level, and the changing value of money including the quantity theory, Index numbers, inflation and deflation. After going through this chapter, you will understand the functions and the value of money.

Humans have always been in search of things that will make life easier, pleasant and worth living. The primitives produced a few things but wanted numerous other things to satisfy their desires. How would they consume what they did not directly produce? Farmers used ...

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