MGST 217 Chapter Notes - Chapter Chapter 17: Interest Rate, Mutual Fund, Tmx Group

• School: University of Calgary
• Department: Management Studies
• Course: MGST 217
• Professor: Sherry L Weaver

Document Summary

Money is anything that is acceptable as payment for goods and services. It affects our lives in many ways; we can earn it, spend it & invest it. For money to be a suitable means of exchange, it should have these key characteristics: scarcity, durability, portability, divisibility. Societies have developed a uniform money system to measure the value of goods and services. For it to be acceptable, it must function as a medium of exchange, as a standard of value and as a store of value. Contains 3 parts: currency, demand deposits and time deposits. The amount of money in circulation is measured in a variety of ways. The most common are monetary aggregates (m1, m2). Credit cards are used as a substitute to cash and cheques. The sole issuer of canada"s currency. (as its own separate power to create money, which is different from the government of canada"s power to spend money.