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Siller or money is onything that is for ordinar accepted in payment for guids an services an in repayment o dets.[1] The main uises o siller are as a medium o exchynge, a unit o accoont, an a store o vailyie.[2]

Currency[eedit | eedit soorce]

A currency is a unit o exchynge, faceelitatin the transfer o guids an services. It is a form o siller, an it is conseedert a store o vailyie bi mony fowk an aw, that's shaped bi a claim tae its central baunk assets. A currency zone is a kintra or region that haes a specific currency as the dominant medium o exchynge. For tae faceelitate troke atween currency zones, thare's exchynge rates i.e. prices that currencies (an the guids an services o indiveedual currency zones) can be exchynged agin ilk ither for. Currencies can be classifee'd as aither fleetin currencies or fixed currencies based on their exchynge rate regime. In common uiss, currency whiles refers anerly tae paper money, as in "cunyies an currency", but this is misleadin. Cunyies an paper money is baith forms o currency.

See forby[eedit | eedit soorce]

References[eedit | eedit soorce]

  1. Mishkin, Frederic S. (2007). The Economics of Money, Banking, and Financial Markets (Alternate Edition). Boston: Addison Wesley. p. 8. ISBN 0-321-42177-9.
  2. Mankiw, N. Gregory (2007). Macroeconomics (6th ed.). New York: Worth Publishers. ISBN 0-7167-6213-7.