BIOL376 Chapter Notes - Chapter 8: Electronic Funds Transfer, Unsecured Debt, Debit Card
Document Summary
Business chapter # 8 notes managing financial issues. Money any object generally accepted by people as payment for goods and services. Portability modern currency is lightweight and easy to handle. Divisibility modern currency is easily divisible into smaller parts with fixed values for each unit. Durability modern currency does not spoil, it does not die, and if it wears out, it can be replaced with new coins and paper money. Stability the stability of the value of the money. Medium of exchange we use money as a way of buying and selling things. Without money, we would be bogged down in a system of barter. Store of value money can be used for future purchases and therefore stores" value. Unit of account money lets us measure the relative values of goods and services. It acts as a unit of account because all products can be valued and accounted for in terms of money.
