Video 1
The first video is is about the 2 different types of money: Fiat money, commodity, and representative money. Fiat money is not backed by precious metal, but is still considered money. Its only money because the government says so. Representative money is money presented by resources such as metal, gold or silver. Commodity money has two purposes, such as purchasing salt or cow.
The 3 functions of money are:
-a medium of exchange
-it can store for value, but can also be stored in a bank
-it is a unit of account
These are the main topics that are covered in this video.
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