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.
![](https://tutor2u-net.imgix.net/subjects/economics/micro_money_functions.jpg?auto=compress%2Cformat&fit=clip&q=80&w=800)
Check out our revision video playlist on financial economics
![](https://tutor2u-net.imgix.net/subjects/economics/micro_money_characteristics.jpg?auto=compress%2Cformat&fit=clip&q=80&w=800)
-
7
Revision Flashcards for A-Level Economics Students
Resource Collection
You might also like
![](https://tutor2u-net.imgix.net/user-photos/gbr_profile.jpg?auto=compress%2Cformat&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&h=100&q=80&w=100)
Co-Op Bank fails Bank of England stress test
16th December 2014
![](https://tutor2u-net.imgix.net/user-photos/gbr_profile.jpg?auto=compress%2Cformat&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&h=100&q=80&w=100)
Commercial banks and capital requirements
22nd August 2016
Financial Market Failure (Financial Economics)
Study Notes
Carney on popular disillusionment with capitalism
6th December 2016
Investment Banks (Financial Economics)
Study Notes
![](https://tutor2u-net.imgix.net/user-photos/gbr_profile.jpg?auto=compress%2Cformat&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&h=100&q=80&w=100)
Finance & Financial Crises (Ha-Joon Chang)
10th January 2020
![](https://tutor2u-net.imgix.net/user-photos/gbr_profile.jpg?auto=compress%2Cformat&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&h=100&q=80&w=100)
Interest Rates and Aggregate Demand and Supply
12th February 2023