The determination of the value money, Managerial Economics

The Determination of the Value Money 

Since money is primarily a medium of exchange, the value of money means what money will buy.  If at one time a certain amount of money buys fewer things than at a previous time, it can be said that the value of money has fallen.  Since money itself is used as unit of account and a means of measuring the "value" of other things, its own value can be seen only through the prices of other things.  Changes in the value of money, therefore, are shown through changes in prices.

Posted Date: 11/28/2012 6:54:33 AM | Location : United States







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