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Unformatted text preview: and sufficient condition for money The Functions of Money The Benefits of Money Money is a remarkable social institution that has incredible benefits . Money facilitates exchange The mere fact of allowing and enabling enhanced production opportunities creates enormous economic value. Money facilitates production Even more than the considerable benefits of enhanced exchange, the benefits of enhanced production opportunities creates economic value. This is an integral part of the continuing extension of the degree of the division of labor in modern economies. Without money modern specialized economies are inconceivable....
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This note was uploaded on 09/23/2011 for the course FIN 6320 taught by Professor Lewin during the Summer '11 term at University of Texas at Dallas, Richardson.
- Summer '11
- Financial Markets