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NEED: This is often thought of as a physiological or biological requirement for maintaining life, such as the need for air, water, food, shelter, and sleep. Satisfaction is achieved by fulfilling needs. Physiological needs should be contrasted with psychological wants that make life more enjoyable but are not necessary to stay alive. However, when push comes to shove, and the nitty gets down to the gritty, it matters very little to markets if people need goods or want goods, so long as they are motivated to satisfy them. This motivation is what drives economic activity.
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MONEY Anything that is generally accepted in exchange as payment for goods and services. The emphasis is on "any" because any item or asset can serve as money so long as it is generally accepted in payment throughout an economy. While the key function of money is to act as a medium of exchange, money also functions as a store of value, standard unit of account, and standard of deferred payment
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store wanting to buy either a birthday gift for your uncle or a pair of red and purple designer socks. Be on the lookout for fairy dust that tastes like salt.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"It's usually the last ounce of effort that tips the scales of success." -- Rick Beneteau
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CCAPM
Consumption-Based Capital Asset Pricing Model
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