By BUSINESS WRITER
Cryptocurrency is a digital currency produced by a publicnetwork or blockchain and is now the latest currency in the finance world. People originally traded surplus commodities with each other in a process known as bartering.
Of the 25 companies with the largest corporate profits in the world, banking, energy and technology firms are absolutely making huge profits.
According toaccountingschoolguidecollectively, they made $567,856,000,000 in 2012 alone. And that’s only 25 of the most profitable companies in the world. The infographic below shows the most profitable companies in 20123 by profit in US dollars, industry and country where their headquarters are located.
The value of each good traded could be debated, however, and money evolved as a practical solution to the complexities of bartering hundreds of different things. Over the centuries, money has appeared in many forms, but, whatever shape it takes, whether as a coin, a note, or stored on a digital server, money always provides a fixed value against which any item can be compared.
Money has become increasingly complex over time. What began as a means of recording trade exchanges, then appeared in the form of coins and notes, is now primarily digital.
The economic law of supply and demand states that when the price of a commodity (such as oil) falls, consumers tend to use, or demand, more of it, and when its price rises, the demand decreases. One of the key factors affecting price is the amount of a commodity available—its supply.
Low supply will push prices up, as consumers are willing to pay more for something that is difficult to obtain, and high supply will push prices down as consumers will not pay a premium for something that is plentiful.
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