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MGTA02H3 Chapter Notes - Chapter 10: Secured Loan, Savings Account, Digital Currency

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School
UTSC
Department
Management (MGT)
Course
MGTA02H3
Professor
Chris Bovaird

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MGTA02H3 Full Course Notes
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The value of everything you own is your personal wealth. modern money usually takes form of stamped metal or printed paper that is issued by governments. Just about any object can serve as money if it is portable, divisible, durable, and stable. money is any object generally accepted by people as payment for goods and services. money serves three functions: medium of exchange: we use money as a way of buying and selling things. I t acts as a unit of account because all products can be valued and accounted for in terms of money. credit has become a major factor in the purchase of consumer goods in canada. credit cards do not qualify as money. They are a money substitute; they serve as a temporary medium of exchange but are not a store of value. www. notesolution. com.

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Related Questions

36) Which of the following best describes the term standard of living? a) total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system total quantity of goods and services produced by an economic system the overall quality of life produced by an economic system total value of all goods and services produced by a national economy within a given period, regardless of where the factors of production are located

11) Which of the following best describes the term standard of living? total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system total quantity of goods and services produced by an economic system the overall quality of life produced by an economic system total value of all goods and services produced by a national economy within a given period, regardless of where the factors of production are located

32) Which of the following best describes the term gross domestic product? a) total value of all goods and services produced within a given period by a national economy through domestic factors of production total quantity of goods and services produced by an economic system conditions of the economic system in which an organization operates total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located