Federal Reserve Paper

Federal Reserve Paper

Federal Reserve Paper

The function and purpose of money is very simple; Money is meant to assist trade making life better. The purpose of money, whether it is credit cards, demand deposits or currency, it's a means of exchange to buy services and goods. It is a known fact that all humans' beings will accept it and also a tool taken in exchange for something else. Money has three functions in the economy. They are, the store of value which is has value and is transferred from one person to the next when purchasing services or goods, the unit of account which measures the debts and prices, and a medium of exchange which is a universal tool that allows sellers and buyers to trade money in exchange for services and goods.

The central bank manages a...