COMMERCE 1E03 Study Guide - Final Guide: Consumer Protection, Financial Institution, Ecash
11 Apr 2017
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Document Summary
Money is anything that people generally accept as payment for goods and services. Barter is the direct trading of goods or services for other goods and services. Barter exchange where you can put goods or services into the system and get trade credits for other goods and services you need. Barter exchange is easier because you don"t have to find people to barter with. Portability- coins are easier to take to the market. Divisibility- different sized coins and bills can represent different values. Stability- the value of money is relatively stable: if the dollar fluctuates too rapidly the world may turn to different currencies to measure value. Durability- coins last for thousands of years. Uniqueness- hard to counterfeit, or copy, elaborately designed and minted coins. Electronic (e-cash) is new and can make online payments. Recipients can choose to automatic deposit to their financial institutions.
