3 Tutorials that teach How Money has Developed over Time
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How Money has Developed over Time

How Money has Developed over Time

Author: Jeff Carroll

This lesson explains the history and functions of money.

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Introduction to Psychology

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Source: Image of coins, double arrow, cow, handshake, images by Video Scribe, License held by Jeff Carroll; Image of wood chair, Public Domain, http://bit.ly/WVuWnL; Image of flour sack, Public Domain, http://bit.ly/1l3lHaH; Image of M1 and M2 Money Supply, Public Domain, http://bit.ly/UBhHHg.

  • M1 Money Supply

    Money that is either physical money or immediately accessible through an account such as a checking account.

  • M2 Money Supply

    All of the money that is in the M1, plus funds or investments that are easily converted into cash such as a a saving account or money market fund.

  • Medium of Exchange

    An item that allows a simplified sale or purchase process.