Examlex
What is the term for the practice of using decision-making shortcuts to arrive at satisfactory, rather than optimal, decisions?
Commodity Money
Money that has intrinsic value because it is made of a commodity with its own value, such as gold or silver.
Intrinsic Value
The inherent or true value of an asset, investment, or company, based on underlying perception of its true value including all aspects of the business.
First Bankers
This refers to individuals or institutions that were among the earliest to engage in banking activities, such as accepting deposits and making loans.
Goldsmiths
Historically, craftsmen who made objects out of gold, but in financial history, they are known for keeping gold deposits and issuing paper bank notes redeemable for gold.
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