The functions of money, the role of banks, and government taxation and spending.
Money and the financial system keep the economy running.
Functions of money
- A medium of exchange (for buying and selling)
- A store of value (for saving)
- A unit of account (for pricing)
- A standard of deferred payment (for credit)
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.