CeFS All Topic Flashcards

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Uses of Money
1. Method of exchange 2. A recognised unit of value 3. Method of storing value
1 of 5
Advantages of using money
1. Money will not expire 2. Money has a fixed value 3. Precise-money has a recognised value 4. Money is portable 5. Easy to store (in a card) 6. Safe to store
2 of 5
What features does Money Display?
1. Acceptable 2. Durable 3. Recognisable 4. Portable 5. Stable 6. Scarce but sufficient 7. Divisable 8. Homogenous
3 of 5
Purchasing Power
Purchasing power of money is its most important aspect. Purchasing power is how much you can buy with the money you have. Overtime, it should remain constand, inflation (which means the steady increase of prices) will reduce purchasing power.
4 of 5
Personal Payments
Essential - Payments that have to be made due to legal contracts or survival obligations. Discretionary - non-priority payments.
5 of 5

Other cards in this set

Card 2

Front

1. Money will not expire 2. Money has a fixed value 3. Precise-money has a recognised value 4. Money is portable 5. Easy to store (in a card) 6. Safe to store

Back

Advantages of using money

Card 3

Front

1. Acceptable 2. Durable 3. Recognisable 4. Portable 5. Stable 6. Scarce but sufficient 7. Divisable 8. Homogenous

Back

Preview of the back of card 3

Card 4

Front

Purchasing power of money is its most important aspect. Purchasing power is how much you can buy with the money you have. Overtime, it should remain constand, inflation (which means the steady increase of prices) will reduce purchasing power.

Back

Preview of the back of card 4

Card 5

Front

Essential - Payments that have to be made due to legal contracts or survival obligations. Discretionary - non-priority payments.

Back

Preview of the back of card 5

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