Learn MXNET with Real Code Examples

Money enables people to trade goods and services efficiently without relying on barter.

It serves as a measure to compare the value of different products or services.

Money can take multiple forms, including coins, banknotes, digital currency, and electronic balances.

Medium of exchange: used to buy and sell goods/services

Store of value: retains value over time

Unit of account: standard measure of value

Liquidity: easily converted to goods or services

Legal tender: recognized by governments and law

Fiat money: currency backed by government decree

Commodity money: money backed by a physical good (gold, silver)

Cryptocurrency: digital assets secured by cryptography

Liquidity: ease of converting money into goods/services

Inflation: decrease in purchasing power over time

Income sources: salary, business, investment

Expenses: living, operational, discretionary

Savings: emergency funds, long-term savings

Investments: stocks, bonds, real estate, crypto

Debt management: loans, credit cards, mortgages

Earn money through work, trade, or investment

Store in bank accounts, wallets, or other secure forms

Use money for consumption, investment, or savings

Monitor and manage money flow and budgets

Allocate money for growth, spending, or charitable purposes

Beginner: basic earning, spending, and saving

Intermediate: budgeting and expense tracking

Advanced: investing and wealth building

Expert: portfolio management and risk mitigation

Enterprise: corporate finance, global transactions, and treasury management

Cash vs Digital: physical vs electronic convenience

Fiat vs Crypto: government-backed vs decentralized

Savings vs Investment: secure storage vs wealth growth

Bank account vs Wallet: regulated vs flexible

Local currency vs Foreign currency: domestic vs global trade

3000 BC – Early commodity money (grain, livestock)

600 BC – First minted coins in Lydia

7th century – Paper money in China

20th century – Modern fiat currency systems

2009 – Introduction of Bitcoin and decentralized digital currency

Fiat money: government-issued currency

Commodity money: backed by a physical good

Cryptocurrency: decentralized digital currency

Liquidity: convertibility into goods/services

Inflation: reduction in purchasing power over time