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10 cards from this deck
Item widely used & accepted for exchanging goods & services
Seven characteristics
Medium of exchange, unit of account, store of value
Convenient way to pay for goods & services instead of bartering
Standard way to measure & compare value of different items
Allows saving of purchasing power for future use
Money with intrinsic value in itself (e.g., gold, silver)
Currency with little commodity value, backed by government decree
Credit from banks; electronic transfers without physical cash
3-6% per year
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