- Expert Academic and Article Professional Writing Service
- +1 323 471 4575
- academicperfect@gmail.com
Functions of Money
Functions of Money
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Functions of Money
Money is one of the most important inventions of human civilization. It is a medium of exchange that makes trade and commerce possible. Money has evolved over time and today it performs several functions that make it an essential component of modern economies. In this essay, we will discuss the functions of money in detail.
Medium of Exchange
The primary function of money is to serve as a medium of exchange. Money acts as a common measure of value that facilitates transactions between buyers and sellers. Without money, trade would be conducted through barter, which would require the direct exchange of goods and services. Barter has several limitations, such as the need for a double coincidence of wants, the difficulty of carrying out large transactions, and the lack of a common measure of value. Money overcomes these limitations by providing a standardized medium of exchange that is widely accepted and easily portable.
Unit of Account
Money also serves as a unit of account. It provides a common measure of the value of goods and services. This enables us to compare the prices of different products and determine their relative worth. In a market economy, prices play a crucial role in allocating resources efficiently. Money facilitates this process by providing a standardized measure of value that enables buyers and sellers to agree on the price of goods and services.
Store of Value
Another function of money is to act as a store of value. This means that money can be used to save purchasing power over time. Money can be saved and used at a later date to purchase goods and services. The ability to store value in money is important because it provides a way to transfer purchasing power from one period to another. This allows people to save for future expenses, such as education, retirement, or emergencies.
Standard of Deferred Payment
Money also serves as a standard of deferred payment. This means that it can be used to settle debts and obligations at a later date. When people borrow money, they are essentially exchanging present goods and services for future goods and services. The use of money as a standard of deferred payment enables borrowers and lenders to agree on the terms of the loan, including the interest rate and the repayment schedule.
Liquidity
Money is also a liquid asset. This means that it can be easily converted into cash without loss of value. In contrast, other assets, such as real estate or stocks, may be difficult to sell quickly and may suffer from price volatility. The liquidity of money makes it a preferred asset for transactions, savings, and as a store of value.
Measure of Economic Activity
Finally, money serves as a measure of economic activity. Changes in the quantity of money in circulation can provide information about the level of economic activity. For example, if the money supply is increasing rapidly, it may indicate that the economy is growing and that inflation may be a concern. Conversely, if the money supply is decreasing, it may indicate that the economy is contracting, and deflation may be a concern.
Conclusion
Money is a multifunctional instrument that enables economic transactions, facilitates price discovery, and provides a store of value. Its functions as a medium of exchange, unit of account, store of value, standard of deferred payment, liquidity, and measure of economic activity make it a critical component of modern economies. Without money, the complex interactions that drive market economies would be much more difficult, if not impossible. As such, money is an essential tool for individuals, businesses, and governments, and its proper functioning is crucial for economic growth and development.
Functions of Money
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
CLICK ON THE LINK HERE: https://essaysolver.com/orders/ordernow
You Can Also Place the Order In www.perfectacademic.com/orders/ordernow / www.essaysolver.com/orders/ordernow
Do You Have Any Other Essay/Assignment/Class Project/Homework Related to this? Click Here Now [CLICK ME] and Have It Done by Our PhD Qualified Writers!!
PLACE THE ORDER WITH US TODAY AND GET A PERFECT SCORE!!!
Do You Have Any Other Essay/Assignment/Class Project/Homework Related to this? Click Here Now [CLICK ME] and Have It Done by Our PhD Qualified Writers!!
Why Work With Us!!
Tired of getting an average grade in all your school assignments, projects, essays, and homework? Try us today for all your academic schoolwork needs. We are among the most trusted and recognized professional writing services in the market.
We provide unique, original and plagiarism-free high quality academic, homework, assignments and essay submissions for all our clients. At our company, we capitalize on producing A+ Grades for all our clients and also ensure that you have smooth academic progress in all your school term and semesters.
High-quality academic submissions, A 100% plagiarism-free submission, Meet even the most urgent deadlines, Provide our services to you at the most competitive rates in the market, Give you free revisions until you meet your desired grades and Provide you with 24/7 customer support service via calls or live chats.
