1. ECONOMICS CHAPTER 10 MONEY AND THE FINANCIAL MARKET Money for Nothing

2. Money 10A  Money  1 Chronicles 29:12 and Proverbs 30:8-9 pg 186  Money: is anything that a society commonly uses and generally accepts in payment for goods and services. Thus anything can serve as money.  Legal Tender: U.S. Congress declares our currency to be legal tender, so that if you tender (or offer) it as payment for a debt, all creditors must accept it.

3. Money 10A  Functions of Money (pg187-188)  Means of Payment  Measure of Value  Means of Storing Purchasing Power  Bartering (inefficient) vs. using Money  Desirable Characteristics of Money Convenience and Portability  Divisibility  Durability  Stability

4. Money 10A  Money Standards  Commodity money  Full-bodied coin  Token coin  Representative money  Fiat money

5. Money 10A  Measuring the Money Supply  M-1  M-2  Creation of Money  Fractional Reserve Banking

6. The Financial Market 10B  The Financial Market  Financial Market  Commercial Banks  History of Banking in the United States  Dual Banking and Regulation  Commercial bank and charter

7. The Financial Market 10B  Functions of Commercial Banks  Other Financial Institutions: Thrifts  Savings and Loans (S&Ls) pg 199 the S&L Crisis  Mutual Savings banks  Credit Unions  Contractual Savings Institutions

8. The Financial Market 10B  Finance Companies  Investment Companies  Personal Finance: Opening and Maintaining a Transaction Account