Economics 1022A/B Chapter 24: Economics Chapter 24 Textbook Notes

• School: Western University
• Department: Economics
• Course: Economics 1022A/B
• Professor: Jeannie Gillmore

Document Summary

Store of value y money is a store of value in the sense that it can be held and exchanged later for goods and services. Inflation lowers the value of money and the values of other commodities and tokens that are used as money y to make money as useful as possible as a store of value, a low inflation rate is needed. Money in canada today y money consists of: currency. currency: the notes and coins held by individuals and businesses: deposits at banks and other depository institutions. trust and mortgage companies, credit unions, caisses populaires, are also counted as money. chartered bank: a private firm chartered under the bank act of 1992 to receive deposits and make loans. by far the largest institutions in the banking system and conduct all types of banking and financial business: credit unions and caisses populaires. credit union: a cooperative organization that operates under the cooperative.