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The purchasing power of money
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lazerus
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Tue Oct 17 2000 at 19:54:29
Money's true
value
is its puchasing power or what it will buy. Our
purchasing
power
is
represented
by the amount and quality of goods and services our dollars buy. We work to earn money to us purchasing power. The paper used in printing currency is itself not worth much. Our "silver" coins (nickels, dimes, quarters,) do not contain silver any more. The
precious
metal
content
of our coins is worth less than the actual value of the coins. For example just a few cents' worth of metal is used on a quarter. Our money is worth something only because all of us accept it as a value that means the same thing to everbody. Two
nickels
equal one dime, four
quaters
equal
$1, ten $10
bills
equal $100 and so on. Money is a
convenience
. It is a small, light and easy to carry and store. The coins last a long time.
Worn
or torn money can eaily be changed at banks for new
money
.
printable version
chaos
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