Chapter 8 "Money and Banking

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Chapter 8 "Money and Banking by Mind Map: Chapter 8 "Money and Banking

1. 1. What Makes Money

1.1. A man in Canada traded a paperclip for a house

1.1.1. 1st: Red Paperclip

1.1.2. 2nd: Pen Shaped like a Fish

1.1.3. 3rd: Sculpted doorknob

1.1.4. 4th: Camping Stove

1.1.5. 5th: Generator

1.1.6. 6th: Supplies to Throw a Party

1.1.7. 7th: Snowmoblie

1.1.8. 8th: A trip to a town in British Columbia, a van, a recording contract, and a year's of free rent of a house in Phoenix, Arizona

1.1.9. 9th: An afternoon with rock star Alice Cooper

1.1.10. 10th: Fancy motorized snow globe

1.1.11. 11th: Movie role

1.1.12. 12th: A House

2. 2. What Makes Money... Money?

2.1. Money has three Basic Functions

2.1.1. Medium of exchange

2.1.2. Standard of Value

2.1.3. Store of Value

2.2. Money has Six Main Characteristics

2.2.1. 1: Acceptability

2.2.2. 2: Scarcity

2.2.3. 3: Portability

2.2.4. 4: Durability

2.2.5. 5: Divisiblity

2.2.6. 6: Uniformity

3. 3. How Does the Banking System Work

3.1. Types of Deposits

3.1.1. Checkable deposits

3.1.2. Savings deposits

3.1.3. TIme deposits

3.2. Types of Loans

3.2.1. Commercial loans

3.2.2. Consumer loans

3.2.3. Morgage loans

4. 4. How Is Saving Important to the Economy- And to You?

4.1. Savings help the Economy

4.1.1. Saving helps the Economy Grow

4.1.2. Saving can help you Reach Important Goals

4.1.3. Saving can help you Weather Hard Times

4.2. Savings that Help with Funding your Retirement

4.2.1. Social Security

4.2.2. Company Retirement Plans

4.2.3. Personal Savings

5. 5. How Do Americans Invest Their Saving?

5.1. Investing Offers Rewards and Poses Risks

5.2. Investment Basic: The power of Compounding

5.3. Types of Bonds

5.3.1. Corporate Bond

5.3.2. Junk Bond