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<strong>ECO</strong> <strong>316</strong> <strong>ECO</strong><strong>316</strong> <strong>WEEK</strong> 1 <strong>DISCUSSION</strong> 1 <strong>MONEY</strong> <strong>AND</strong> <strong>ITS</strong><br />
<strong>FUNCTIONS</strong> (<strong>ASHFORD</strong>)<br />
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Ashford <strong>ECO</strong> <strong>316</strong> Week 1 Discussion 1 Money and its Functions [WLOs: 2] [CLOs: 1, 2]<br />
Money and its Functions [WLOs: 2] [CLOs: 1, 2]. 1st Post Due by Day 3. Money is an essential component of our<br />
lives. Paper currency has no intrinsic value but is used as money because the federal government has designated it<br />
to be legal tender and it satisfies the key functions of money. For this discussion, list the four key functions of money.<br />
Then, identify one commodity and discuss whether it can be used as money. Explain your reasoning. Explain<br />
whether or not credit cards can be considered money. Finally, evaluate how a change in the money supply would<br />
affect the economy, including interest rates, inflation, and unemployment.
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