Currency

The penny is a coin which is often disregarded by Americans. With the penny only being worth one cent, it is difficult to believe that production of this coin results in $132,000,000 in losses annually. This, however, is a true fact which is negatively impacting the pockets of American citizens. Considering the major loss of producing this cent, it would benefit America to overall discontinue producing this coin. Pennies are only worth one cent, yet, based on research from 2014 Annual Report…

Donating a penny is simple but giving away something more worthy, we tend to get hesitant. People fear that they will lose more money if United States got rid of pennies, steel can be replaced to make pennies instead of copper, and collecting pennies can truly add money quickly. I think that the United States should keep pennies. First, getting rid of pennies will raise the prices on items. "Penny Wise or 2.41 Cents Foolish" says that if a cup of coffee costs $2.01, it should be raised down to…

Are you up to your eyeballs in debt and do not know what to do? If so, then you can rest assured that you are not alone. I have been there myself. In fact, I was there just two years ago. My wife and I were stressed out to the max. Our income had dwindled tremendously. We had lost multiple jobs because the companies that we worked for had downsized. We did not have any money in our savings, and we had a lot of debt. We were able to pay some of our bills but not all of them. Not only was my wife…

There is a mysterious voice saying “We didn 't use money. In ancient times we used to barter commodities directly.” This voice appears in every society with money, and as Graeber believes, is fantasy. In his book Debt: The first 5,000 Years, Graeber states “We did not begin with barter, discover money, and then eventually develop credit systems. It happened precisely the other way around” (21). Graeber writes his book to dispel the widespread notion of the “Myth of Barter” and provides his own…

PESTEL 1. Political – “significant delays in the delivery of cargo due to security considerations; and economic and political conditions or terrorist acts, or other problems in countries from or through which merchandise is imported and exported.” (Page 14) West marine is sometimes faced with dilemmas that delays merchandise that is imported and exported due to occurrences beyond west marine’s control. This leads to a series of issues that can lose revenue for the company. The countries in…

Buying drinks or food at stores, in return, change goes back into our society’s pockets. People of all ages keep jars of useless coins, with pennies filling up most of the space. Places like Australia, New Zealand, Brazil, Finland, the Netherlands, Norway, Sweden, Switzerland, Britain, and recently Canada have all dropped their lowest coin(The New York Times). The United States should stop using the penny because it costs more than a penny to make a penny, and there is minimal use for the penny.…

Beck, Thorsten. "Financial development and international trade: Is there a link?" Journal of international Economics 57, no. 1 (2002): 107-131. This paper by Beck focuses on economies that has created budgetary sectors, have a near favorable position in assembling businesses. A two-division display demonstrates the part with vast scale economies benefiting more than the other financial sectors. In nations with elevated amounts of monetary advancement, fabricated fares speak to a higher offer of…

Blockchain is a shared, distributed ledger that facilitates the process of recording transactions and tracking assets in a business network [1]. It is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but can be applied to everything of value. Once the information is entered in Blockchain it cannot be erased, modified or tampered with. Everyone in the network will be able to write data/perform transactions but cannot modify…

VISA Inc. is a multinational financial services corporation which facilitates electronic funds transfers across the world. Visa also issues debit and credit cards but it does not extend credit or sets charges for the consumers. It only caters to the needs of financial institutions regarding VISA-branded payment products which are used by the institutions to offer cash access programmes and cashless transaction programmes to their customers. The global network of Visa transactions is also called…

According to Edward Bahaw, Money can be defined as anything which is generally acceptable as a means of settling a debt obligation. Money can also be defined a medium of exchange, standard of deferred payment, unit of account and a store of value. As persons need money to get things done, persons will demand and hold money for various reasons. Firstly money demanded can be defined as the amount of money a person holds in their possession. The three motives for holding money…