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MONEY AND FINANCIAL INSTITUTIONS - Coggle Diagram
MONEY AND FINANCIAL INSTITUTIONS
Determination of money
Representative money
The gold standard
Credit cards, debit cards, cheques
Fiat money
Bartering
Currency and cash
Paper money
Characteristics of Money
Durability
Divisibility
Portability or transportability
Uniformity
Stability
Recognisability and acceptability
Relative scarcity
There are four basic functions
Measure of value or a unit of account
Store of value
Medium of exchange
Standard of deferred payment