Economics Origins of Money part 2

Economics Origins of Money part 2

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Storyboard Text

  • Scene 7
  • Money as a Medium of Exchange
  • Scene 8
  • Money as a Unit of Account
  • Scene 9
  • Money as a Store of Values
  • Vicki talks about the three functions of money and explains the first, Medium of Exchange
  • Scene 10
  • Goldsmiths were the early bankers
  • Alex talks about how money is a unit of account
  • Scene 11
  • The banks give out loans to people who can't afforad certain things
  • Vicki talks about how money is a store of values
  • Alex and Michael act out the Goldsmiths being the early bankers while Vicki talks about how they were the early bankers
  • Vicki talks about fractional Reserve banking and how it relates to banks today
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