Textbook Notes (362,815)
Canada (158,059)
MGTA02H3 (361)
Chapter 8

Chapter 8 summary notes

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University of Toronto Scarborough
Management (MGT)
Chris Bovaird

MGTA04 Chapter 8 WHAT IS MONEY - value of money can uctuate & can have big effect on country and ppl The Characteristics of Money - money: any object generally accepted by ppl as payment for goods & services. (has to have portability, divisibility, durability, stability) The Fluctuations of Money - money serves 3 functions - medium of exchange; we use money to buy and sell things - store of value; money can be used for future purchases - unit of account; lets us measure the relative values of goods and services Credit Cards: Plastic Money? - credit cards are money substitute; they serve as a temporary medium of xchange but are not a store of value - theyre convenient and extremely protable (from annual feesinterest and fees from merchants that accept credit card) THE CANADIAN FINANCIAL SYSTEM - many forms of money depend on existence of nancial institutions to provide services to business and individuals Financial Institutions - there are a variety of nancial intermediaries in Canada, vary in size, importance and types of sources they appeal to. - nancial community in Canada is divided i
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