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Factors that determine the value of money.
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[QUOTE="CALVINDOL, post: 241071, member: 43757"] If there is anything that we are taught about money it is the fact that money has value and there are some factors that we need to know that totally determines the value of money . The price of goods and commodities sold in the local market actually determines the value of a given sum of money . If you live in Nigeria you will understand that the price of goods and services or in a hole the price of production of goods and services is actually on an increasing rate and these have made the value of money to decrease drastically . When I was little around the age of eight to nine I could remember that an individual in Nigeria can use the son of 5000 naira to cook and interesting and delicious pot of soup , but now even the sum of 15000 and I cannot even cook the most usual and normal kind of soup this probably means that the value of money have totally decreased because of the increase price of goods and services in the local market . Another factor that totally determine the value of money is also , a quantity of goods and services that are to be sold if the quantity of goods and services that are to be sold is high then the value of money will actually change drastically . [/QUOTE]
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Factors that determine the value of money.
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