COMMERCE 1E03 Chapter Notes - Chapter 18: Guaranteed Investment Certificate, Central Securities Depository, Financial Market
19 Apr 2018
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Chapter 18: money, the banks of canada, and the canadian. Money: anything that people generally accept as payment for g&s (1880s - cowrie shells wew the world"s most popular currencies) Barter: direct trading of g&s for other g&s (ex. Barter exchange: where one can put g&s into the system and get trade credits for other. Easier bc you don"t have to find people with whom to barter, the exchange does it for you. Problem with traditional barter is that eggs n milk are difficult to carry around. Electronic cash (e-cash): one of the newest forms of money, recipients can choose auto deposit to their financial institutions e-dollars for spending online, or a traditional cheque (blabla bitcoin) Falling dollar value (weak): the amount of g&s you can buy with a dollar decreases. Rising dollar value (strong): the amount of g&s you can buy with a dollar goes up.
