COMMERCE 1E03 Chapter Notes - Chapter 18: Deflation, Initial Public Offering, Global Exchange
5 Apr 2016
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Chapter eighteen the financial service industry in canada. Credit unions: non-pro t member-omened nancial co-operatives that offer a full variety of banking services to their members. Trust company: a nancial institutions that can administer estates, pension plans, and agency contracts, in addition to other activities conducted by banks. Non-banks: financial organization that accept no deposits but offer many services provided by regular banks. Pension funds: amounts of money put aside by corporations, non-pro t organizations, or unions to cover part of the nancial needs of their members when they retire. Money: anything that people generally accept as payment for goods and services. Barter: the trading of goods and services for other goods and services directly. Money supply: the amount of money the bank of canada makes available for people to buy and goods and services. Prime rate: the interest rate that banks charge their most creditworthy customers.
