Numerous studies have shown that being prompted to think about money can predispose people to engage in self-sufficient thinking and behavior—but some findings suggest that demographic characteristics may moderate this ...
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We live in a dirty world. Wherever we go, we are among microbes. Bacteria, fungi and viruses live on our phones, bus seats, door handles and park benches. We pass these tiny organisms to each other when we share a handshake ...
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Efforts to reduce hospital readmissions are working, but they're not always saving money, according to a new Cedars-Sinai study.
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The brain responds less to money gained from immoral actions than money earned decently, reveals a new UCL-led study.
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The appearance of your dinner date affects whether you want to spend money on healthy or unhealthy alternatives from the menu, but only if you are a woman. The more attractive women find their company, the more likely they ...
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The U.S. government may soon lean on someone new to help lower health care costs: you.
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Puerto Rico has been awarded more than $2 million in federal funds to fight Zika across mountain communities in the U.S. territory's interior.
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People tend to view money through a moral lens and are more likely to turn down or donate stolen bills and coins than "clean" cash, a new study has found.
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Feeling overwhelmed? Stressed about work, a family illness or election season? It turns out that worry and anxiety can have an impact on your wallet.
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Scientists at King's College London have shown why people with autism are more logical in their decision-making and less susceptible to the so-called 'Framing Effect'compared to people who do not have the disorder.
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Money is anything that is generally accepted as payment for goods and services and repayment of debts. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value, and occasionally, a standard of deferred payment.
Nearly all contemporary money systems at the national level are fiat money systems. Fiat money is without value as a physical commodity, and derives its value by being declared by a government to be legal tender; that is, it must be accepted as a form of payment within the national boundaries of the country, for "all debts, public and private". By law, the refusal of a legal tender (offering) extinguishes the debt in the same way acceptance does. Some bullion coins such as the Australian Gold Nugget and American Eagle are legal tender, however, they trade based on the market price of the metal content as a commodity, rather than their legal tender face value (which is usually only a small fraction of their bullion value).
The money supply of a country is usually held to consist of currency (banknotes and coins) and 'deposit money' (the balance held in checking accounts and savings accounts). These demand deposits usually account for a much larger part of the money supply than currency. Deposit money is intangible and exists only in the form of various bank records. Despite being intangible, deposit money still performs the basic functions of money, as checks are generally accepted as a form of payment and as a means of transferring ownership of deposit money.
More generally, the term "price system" is sometimes used to refer to methods using commodity valuation or money accounting systems.
This text uses material from Wikipedia, licensed under CC BY-SA
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