15/05/2019 CHAPTER 9 MONEY This is the Title Slide R. DELANEY.

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Presentation transcript:

15/05/2019 CHAPTER 9 MONEY This is the Title Slide R. DELANEY

Money Money is anything that is generally accepted in exchange for goods and services R. Delaney

Functions of Money Money acts as: A means of exchange A measure of value A store of wealth A means of deferred payment (a credit system) R. Delaney

Modern Forms of Money Cash Notes Coins Cheques including Bank drafts Travellers’ cheques Plastic Money Debit cards Credit cards Charge cards Smart cards R. Delaney

Other methods of paying for goods and services and debt payments Standing orders Direct debits Credit transfers Paypath PayPal, in conjunction with bank accounts or credit cards R. Delaney