Prologue Money: functions Primary functions of money #P1: As a medium of exchange #P2: As a measure of value Secondary Functions / Derivative functions #S1: As a store of value #S2: Transfer of Value / Purchasing Power Transfer of [...]
Prologue #5: Difficult to store Value #6: Savings don’t turn into investment What is Circular flow of income? #7: Account-keeping = mission impossible #8: Lack product specialization #9: Future contracts and deferred payments Time value of money Bitcoins and [...]
Prologue Bitcoins overview Barter system #1: Double coincidence of wants #2: Division of Labour #3: Divisibility of Value #4: Fungibility Bitcoin and Fungibility Mock Questions Prologue Original plan was to write on Bitcoins. But for Bitcoin related MCQs, group [...]