Study Notes

Money - Characteristics and Functions (Financial Economics)

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

Last updated 14 Apr 2019

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

Check out our revision video playlist on financial economics

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