Frage | Antworten |
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. |
Möchten Sie mit GoConqr kostenlos Ihre eigenen Karteikarten erstellen? Mehr erfahren.