BUS 200 Lecture Notes - Lecture 12: Litecoin, Savings Account, Bitcoin
Document Summary
Formula for break even point in units = total fixed cost/(price-variable cost) Money separates the acts of sale and purchase. With money, markets do not need to be personal. Money allows for greater extent of exchange. Unit of account (or measure of value) Store of value (can store money for the future) Portable : be able to be moved around. Acceptable : ex; can be accepted by apple. Money supply m2 = m1 plus convertible money. Deposit requiring prior notice before withdrawal of funds. Pooled assets from many investors invested in short-term, low risk financial securities. Credit cards are a liability, money measures assets. But is not widely accepted (so is not yet a form of money) The canadian banking system: chartered banks, alternate banks, life insurance companies; other lending and saving intermediaries, investment dealers. Differences are now blurred due to changes in financial industry regulations: chartered banks. Ex; vancity, coast capital savings, westminster savings: specialized lending and savings intermediaries.