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Money

Frae Wikipedia, the free beuk o knawledge

Siller ormoney is onything that is for ordinar accepted inpayment forguids an services an in repayment odets.[1] The main uises o siller are as amedium o exchynge, aunit o accoont, an astore o vailyie.[2]

Currency

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A currency is a unit o exchynge, faceelitatin the transfer o guids an services. It is a form o siller, an it is conseedert a store o vailyie bi mony fowk an aw, that's shaped bi a claim tae its central baunk assets. A currency zone is a kintra or region that haes a specific currency as the dominant medium o exchynge. For tae faceelitate troke atween currency zones, thare's exchynge rates i.e. prices that currencies (an the guids an services o indiveedual currency zones) can be exchynged agin ilk ither for. Currencies can be classifee'd as aither fleetin currencies or fixed currencies based on their exchynge rate regime. In common uiss, currency whiles refers anerly tae paper money, as in "cunyies an currency", but this is misleadin. Cunyies an paper money is baith forms o currency.

See forby

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References

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  1. ↑Mishkin, Frederic S. (2007).The Economics of Money, Banking, and Financial Markets (Alternate Edition). Boston: Addison Wesley. p. 8.ISBN 0-321-42177-9.
  2. ↑Mankiw, N. Gregory (2007).Macroeconomics (6th ed.). New York: Worth Publishers.ISBN 0-7167-6213-7.
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