Money
Money is anything that is generally acceptable as a medium of exchange and in the settlementof debts.
Trade by Barter. Is a forms of trading in which good are exchanged directly for other goods without the use of money as a medium of exchange.
PROBLEM OF TRADE BY BARTER
.No fixed rate of exchange . Wastage of time . Problem of indivisibilty. Problem of created by bulkiness of some goods .No room for deferred payment. It discourage borrowing and lending. Difficulty in storing wealth
QUALITIES OF MONEY.
General acceptability . Portability. Relative scarcity . Homogeneity . Durability. Stability. Divisibility. Recognisability.
FUNCTION OF MONEY
Medium of exachange. Unit of account. Store of value . As mesure of value. Deferred payment
FORMS OF MONEY
Coins. Commondity . Bank notes . Partial money. Legal tender. Token Money. Deposit money. Fait money. Fiduciary note. Quasi money