Money
Money is a medium of trade and a store of value used to transact goods and services.
Even basic human needs like food, water, shelter, and clothing can all cost money.
Making money
[edit | edit source]The phrase "making money" is said to be uniquely American, reflecting an optimistic outlook and the idea that economics does not have to be a zero sum game. In the old world, humans talked about earning money.
Four methods were described by Italian mathematician Gerolamo Cardano:
- Labor - Use your time and skills
- Capital - Park money somewhere
- Arbitrage - Identify and exploit inefficiencies in the market
- Insurance - Absorb risk for someone else
See also
[edit | edit source]External links
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