Money and Finance: Crash Course Economics #11



So, we've been putting off a kind of basic question here. What is money? What is currency? How are the two different. Well, not to give away too much, but money has a few basic functions. It acts as a store of value, a medium of exchange, and as a unit of account. Money isn't just bills and coins. It can be anything that meets these three criteria. In US prisons, apparently, pouches of Mackerel are currency. Yes, mackerel the fish. Paper and coins work as money because they're backed by the government, which is an advantage over mackerel. So, once you've got money, you need finance. We'll talk about borrowing, lending, interest, and stocks and bonds. Also, this episode features a giant zucchini, which Adriene grew in her garden. So that's cool. Special thanks to Dave Hunt for permission to use his PiPhone video. this guy really did make an artisanal smartphone! https://www.youtube.com/watch?v=8eaiNsFhtI8 Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Fatima Iqbal, Penelope Flagg, Eugenia Karlson, Alex S, Jirat, Tim Curwick, Christy Huddleston, Eric Kitchen, Moritz Schmidt, Today I Found Out, Avi Yashchin, Chris Peters, Eric Knight, Jacob Ash, Simun Niclasen, Jan Schmid, Elliot Beter, Sandra Aft, SR Foxley, Ian Dundore, Daniel Baulig, Jason A Saslow, Robert Kunz, Jessica Wode, Steve Marshall, Anna-Ester Volozh, Christian, Caleb Weeks, Jeffrey Thompson, James Craver, and Markus Persson -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids

Comments

  1. wowwww....
  2. I like that giant limestone money idea.. :D
  3. The difference between the value of the assets/interest and the other cost of the liabilities of something owned is called_____?? Please help
  4. What does DFTBA mean?
  5. Awesome.
  6. there is actually not much evidence of barter systems existing. it seems a form of gift giving existed, likely people mentally tracked what had been given
  7. there is actually not much evidence of barter systems existing. it seems a form of gift giving existed, likely people mentally tracked what had been given
  8. This channel is awesome how ı can't find earlier poor me :(
  9. WTF is with the zucchini?!?!
  10. Comments
  11. I started sleeping half way through. Now have totake a nap. FML.
  12. 6:38 "the bank takes part of the money to cover their costs and passes the rest to the depositer..." hahaha I wish the reality was like that but I think the right way to explain it is: "the bank takes a huge amount of the money to cover its costs and make massive profits and give the depositer a pathetic interest rate"
  13. I'm I the only one who noticed the error when she said theirs only to groups in the financial system. But at the end she adds a third group
  14. Loved this video
  15. where did you get this african zucchini.?
  16. That zucchini must have gold in it
  17. I think we all know what she did with that zucchini
  18. This is challenged
  19. Q____Q
    poor ron paul
    :D
  20. Where can I buy the Zucchini?


Additional Information:

Visibility: 364935

Duration: 10m 36s

Rating: 4286