The Philippines was named in honor of King Philip II of Spain. Spanish explorer Ruy Lpez de Villalobos, during his expedition in 1542, named the islands of Leyte. Fundamentals of Nursing 2nd Edition Test Bank Wilkinson Treas. Chapter 1. Evolution of Nursing Thought and ActionFREE Chapter 2. Critical Thinking the Nursing. Money Wikipedia. A sample picture of a fictional ATM card. The largest part of the worlds money exists only as accounting numbers which are transferred between financial computers. Various plastic cards and other devices give individual consumers the power to electronically transfer such money to and from their bank accounts, without the use of currency. Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio economic context. The main functions of money are distinguished as a medium of exchange a unit of account a store of value and, sometimes, a standard of deferred payment. Any item or verifiable record that fulfills these functions can be considered as money. Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money. Fiat money, like any check or note of debt, is without use value as a physical commodity. It derives its value by being declared by a government to be legal tender that is, it must be accepted as a form of payment within the boundaries of the country, for all debts, public and private. The money supply of a country consists of currency banknotes and coins and, depending on the particular definition used, one or more types of bank money the balances held in checking accounts, savings accounts, and other types of bank accounts. Bank money, which consists only of records mostly computerized in modern banking, forms by far the largest part of broad money in developed countries. Etymology. The word money is believed to originate from a temple of Juno, on Capitoline, one of Romes seven hills. In the ancient world Juno was often associated with money. The temple of Juno Moneta at Rome was the place where the mint of Ancient Rome was located. The name Juno may derive from the Etruscan goddess Uni which means the one, unique, unit, union, united and Moneta either from the Latin word monere remind, warn, or instruct or the Greek word moneres alone, unique. In the Western world, a prevalent term for coin money has been specie, stemming from Latin in specie, meaning in kind. Understand CIA Exam Part 3 on syllabus, topics, format, question style, pass rate and awesome study tips. Prep now and pass this toughest partHistory. The use of barter like methods may date back to at least 1. Instead, non monetary societies operated largely along the principles of gift economy and debt. When barter did in fact occur, it was usually between either complete strangers or potential enemies. Cisco Packet Tracer Download For Windows Xp. Many cultures around the world eventually developed the use of commodity money. The Mesopotamian shekel was a unit of weight, and relied on the mass of something like 1. The first usage of the term came from Mesopotamia circa 3. BC. Societies in the Americas, Asia, Africa and Australia used shell money often, the shells of the cowry Cypraea moneta L. Bank Management And Financial Services 7Th Edition Test Bank' title='Bank Management And Financial Services 7Th Edition Test Bank' />C. L. According to Herodotus, the Lydians were the first people to introduce the use of gold and silver coins. It is thought by modern scholars that these first stamped coins were minted around 6. BC. 1. 8. Song Dynasty Jiaozi, the worlds earliest paper money. The system of commodity money eventually evolved into a system of representative money. This occurred because gold and silver merchants or banks would issue receipts to their depositors redeemable for the commodity money deposited. Mrs Brown Gets A Bikini Wax. Eventually, these receipts became generally accepted as a means of payment and were used as money. Paper money or banknotes were first used in China during the Song dynasty. These banknotes, known as jiaozi, evolved from promissory notes that had been used since the 7th century. Chapter 21. Cardiovascular System Function, Assessment, and Therapeutic Measures My Nursing Test Banks. Training Programs and Courses Training, Certification, SelfHelp and Career Training. News, education, information and entertainment for the commercial bank, finance and leasing industry. A hedge is an investment position intended to offset potential losses or gains that may be incurred by a companion investment. In simple language, a hedge is used to. However, they did not displace commodity money, and were used alongside coins. Word Artist 1.2 Portable here. In the 1. 3th century, paper money became known in Europe through the accounts of travelers, such as Marco Polo and William of Rubruck. Marco Polos account of paper money during the Yuan dynasty is the subject of a chapter of his book, The Travels of Marco Polo, titled How the Great Kaan Causeth the Bark of Trees, Made Into Something Like Paper, to Pass for Money All Over his Country. Banknotes were first issued in Europe by Stockholms Banco in 1. The gold standard, a monetary system where the medium of exchange are paper notes that are convertible into pre set, fixed quantities of gold, replaced the use of gold coins as currency in the 1. Bank Management And Financial Services 7Th Edition Test Bank' title='Bank Management And Financial Services 7Th Edition Test Bank' />Europe. These gold standard notes were made legal tender, and redemption into gold coins was discouraged. By the beginning of the 2. After World War II and the Bretton Woods Conference, most countries adopted fiat currencies that were fixed to the U. S. dollar. The U. S. dollar was in turn fixed to gold. In 1. 97. 1 the U. S. government suspended the convertibility of the U. S. dollar to gold. After this many countries de pegged their currencies from the U. This July, we asked for software tips from the 2017 Microsoft Office National Champions, a set of charming teens who are officially the best at using PowerPoint, Word. S. dollar, and most of the worlds currencies became unbacked by anything except the governments fiat of legal tender and the ability to convert the money into goods via payment. According to proponents of modern money theory, fiat money is also backed by taxes. By imposing taxes, states create demand for the currency they issue. Functions. In Money and the Mechanism of Exchange 1. William Stanley Jevons famously analyzed money in terms of four functions a medium of exchange, a common measure of value or unit of account, a standard of value or standard of deferred payment, and a store of value. By 1. 91. 9, Jevonss four functions of money were summarized in the couplet Moneys a matter of functions four,A Medium, a Measure, a Standard, a Store. This couplet would later become widely popular in macroeconomics textbooks. Most modern textbooks now list only three functions, that of medium of exchange, unit of account, and store of value, not considering a standard of deferred payment as it is a distinguished function, but rather subsuming it in the others. There have been many historical disputes regarding the combination of moneys functions, some arguing that they need more separation and that a single unit is insufficient to deal with them all. One of these arguments is that the role of money as a medium of exchange is in conflict with its role as a store of value its role as a store of value requires holding it without spending, whereas its role as a medium of exchange requires it to circulate. Others argue that storing of value is just deferral of the exchange, but does not diminish the fact that money is a medium of exchange that can be transported both across space and time. The term financial capital is a more general and inclusive term for all liquid instruments, whether or not they are a uniformly recognized tender. Medium of exchange. When money is used to intermediate the exchange of goods and services, it is performing a function as a medium of exchange. It thereby avoids the inefficiencies of a barter system, such as the coincidence of wants problem. Moneys most important usage is as a method for comparing the values of dissimilar objects. Measure of value. A unit of account in economics2. Also known as a measure or standard of relative worth and deferred payment, a unit of account is a necessary prerequisite for the formulation of commercial agreements that involve debt. Money acts as a standard measure and common denomination of trade. It is thus a basis for quoting and bargaining of prices. North South University. North South University. Bashundhara, Dhaka 1. Bangladesh. 8. 80 2 5.