Flashcards
Money and Banking
Cards in this deck (7)
- 1Barter tradeThe exchange of goods and services for other goods and services.
- 2MoneyAnything accepted as a medium of exchange.
- 3Characteristics of money1. Acceptability
2.Divisibility
3.Portability
4.Durability
5.Stability in value
6. Homogenity
7. Cognisability
8. Malleability - 4Demand for moneyThe tendency or desire by an individual or general public to hold onto money instead of spending it.
- 5Transaction motiveA situation where one holds onto money with a motive of meeting daily expenses such as buying food, paying for transport cost and entertainment.
- 6Precautionary motiveWhere people hold onto money to meet expenses that may occur unexpectedley such as sickness, accidents or loss of property.
- 7Speculative motiveMoney held to be used in the future especially when people anticipate that the prices of goods and services will be lower than they are presently.
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- Business Flashcards on Money and Banking, created by Bird on 12/07/2014.
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- Bird
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