Economics

Study Notes

Money - Characteristics and Functions (Financial Economics)

Level:
GCSE, AS, A Level, IB, BTEC Level 3
Board:
AQA, Edexcel, OCR, IB, Eduqas, WJEC

According to the Bank of England, in a modern economy, money is a type of IOU, but one that is special because everyone in the economy trusts that it will be accepted by other people in exchange for goods and services.

Functions of money
This short revision video covers the main functions and characteristics of money

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