COMM 102 Lecture Notes - Lecture 17: Contract, Household Debt, Cameco
Document Summary
Chapter 17: understanding money and the canadian financial system. Scarcity: money should be scarce enough to have some value but not so scarce as to be unavailable. Durability: any item used as money must be durable. Portability: money must be easily moved around. Divisibility: money must be capable of being divided into smaller parts. Funcions of money: medium of exchange, standard of value, store of value. Money is anything that is acceptable as payment for goods and services. We earn it, spend it, save it, invest it and oten wish we had more of it. Business and government use money in similar ways both require money to inance their operaions. By controlling the amount of money in circulaion, the federal government can promote economic growth and stability. Our banking system was developed to ease the handling of money. Money supply: the amount of money the bank of canada makes available for commerce.
