The functions of money, the role of banks and the central bank, and saving and borrowing.
Money
Functions of money: a medium of exchange, a store of value, a unit of account and a standard of deferred payment. Good money is durable, portable, divisible, scarce and accepted.
Viewing only
This content is free to read on superexams.com and cannot be printed or downloaded.
Read the full note — free
Create a free account to read this note in full. Every free account gets 2 complete revision notes — no card needed.