Functions of Money Medium of Exchange Money acts as a go-between to make it easier to buy and sell things. Store of ValueMoney holds its value until people want to exchange it for a good or service. Unit of AccountMoney serves as a way to measure and compare the value of goods and services in relation to one another. L ESSON 13 – P APER M ONEY OF THE S UNG, Y UAN, AND M ING D YNASTIES F OCUS M IDDLE S CHOOL W ORLD H ISTORY © C OUNCIL FOR E CONOMIC E DUCATION, N EW Y ORK, NY

Characteristics of Money Acceptable Money must be acceptable to everyone in exchange for goods and services. DivisibleMoney must be easily divided into small parts (or already in small pieces) so that people can purchase goods and services at any price. DurableMoney must be able to withstand the wear and tear of many people using it. PortableMoney must be easy to carry. ScarceMoney must be hard for people to obtain. Stable in Money’s value must remain relatively value constant over long periods of time. L ESSON 13 – P APER M ONEY OF THE S UNG, Y UAN, AND M ING D YNASTIES F OCUS M IDDLE S CHOOL W ORLD H ISTORY © C OUNCIL FOR E CONOMIC E DUCATION, N EW Y ORK, NY

Functions of Money Spider Graph L ESSON 13 – P APER M ONEY OF THE S UNG, Y UAN, AND M ING D YNASTIES F OCUS M IDDLE S CHOOL W ORLD H ISTORY © C OUNCIL FOR E CONOMIC E DUCATION, N EW Y ORK, NY

Spider Graph Examples L ESSON 13 – P APER M ONEY OF THE S UNG, Y UAN, AND M ING D YNASTIES F OCUS M IDDLE S CHOOL W ORLD H ISTORY © C OUNCIL FOR E CONOMIC E DUCATION, N EW Y ORK, NY