Money and the world economy

Currency, Economy and Labor

• Labor is the most expensive commodtiy.
• Every person has their own specialized labor.
• Currency values and denominations have changed but the original value was based on copper.
• Economies are affected by how labor drives them and buyers and products in each economy compared to the labor withhin.

Wage, SUBSISTENCE and Profit

• An independent workman working through subsistence may produce more than under an employer.
• Average wage of employees change based on the profit of items they currently sell.

Trading, Supply and Demand

• Domestic trading is when cities in a country trade within themselves.
• Trade spreads customs and different currencies.
• Currency value is dependent on supply and demand from customers.
• Different markets may use one currency as a standard.

Investment, Inflation and Reserve

• Investment is risky as you basically wager your money on if the economy will improve.
• Loss of investment leads to lower trust in banks or reserves.
• If the economy is crippled, non-investors are forced to invest in the economy to try and improve it.
• Reserve money is held by checks, cash and banks.
• More investment in the ecomony means lesf official or federal money in supply as a whole.
• Positive investment though can double or even triple in your wealth in just months.

Now time to work on the worksheet I gave you!