Key terms from Topic 1 unit 1 0.0 / 5 ? Allunit 1ASOther Created by: ruybCreated on: 05-03-18 09:59 One of the key features of money – to be widely accepted. One of the key features of money – to be widely accepted. 1 of 9 To exchange goods and services for other goods and services without using money. Barter 2 of 9 Bank or building society accounts where people can store their money in the form of electronic balances and withdraw it to make payments. Current account 3 of 9 A group of coins or notes that share the same face value. Denomination 4 of 9 A key feature of money – to be easily divided into amounts of different value. Divisible 5 of 9 A situation in which two people have goods or services to trade and each wants what the other person can provide. Double coincidence of wants 6 of 9 A key feature of money – to be strong enough to be reused in many transactions. Durable 7 of 9 Value based on trust in the banking system. Fiduciary value 8 of 9 A key feature of money – to look and feel the same as other coins and notes of the same denomination. Homogeneous 9 of 9
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