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SS1 Economics

Money: meaning, characteristics and Functions

Overview

Explain the meaning of money Compare money economy with a barter economy; Identify the various types of money and explain the functions of money in a modern economy. Explain the characteristics of money.

What you'll learn
  • Definition of money, Historical development of money, functions of money, types (including credits cards, value card, other ICT aided payment instruments).
  • Characteristics of money, qualities of a good money