Money and Banking

Flashcards by Bird, updated more than 1 year ago
Created by Bird almost 7 years ago


Business Flashcards on Money and Banking, created by Bird on 07/12/2014.

Resource summary

Question Answer
Barter trade The exchange of goods and services for other goods and services.
Money Anything accepted as a medium of exchange.
Characteristics of money 1. Acceptability 2.Divisibility 3.Portability 4.Durability 5.Stability in value 6. Homogenity 7. Cognisability 8. Malleability
Demand for money The tendency or desire by an individual or general public to hold onto money instead of spending it.
Transaction motive A situation where one holds onto money with a motive of meeting daily expenses such as buying food, paying for transport cost and entertainment.
Precautionary motive Where people hold onto money to meet expenses that may occur unexpectedley such as sickness, accidents or loss of property.
Speculative motive Money 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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