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ALOMAR_212_21 Chapter 3: What is Money? Slide 2 ALOMAR_212_22 What is Money? Historical Preview: From barter system, gold, silver, and banknotes to paper money, checks, and credit cards. Money: different forms, still important in our life. Slide 3 ALOMAR_212_23 Definition: Anything that is generally accepted in payment for goods or services or in the repayment of debts. Money vs. Currency Currency: Dinar bills and coins are one type of money Checks, checking account deposits, are all other forms of payment for purchases Slide 4 ALOMAR_212_24 Money vs. Wealth Stocks, bonds, house Wealth: Total collection of pieces of property that serve to store value. And it includes money. Money vs. Income Income: Flow of earnings per unit of time, Money is Stock Slide 5