What is money

Question 1

what is money

Answer 1

money is anything of value that is widely accepted as payment for good and services

Question 2

What is bartering

Answer 2

Swapping goods or services that one person has for goods or services another person has

Question 3

What are the characteristics of money

Answer 3

• everyone has to except it as payment for goods and services
• It has to be easy to recognise, i.e. each note and coin has to be the same as all the other notes and coins of the same value
• It has to easy to break down into smaller values #
• It has to be small light and easy to carry around

Question 4

What is the ECB

Answer 4

European central bank is the governing body of all European Union central banks and is responsible for making financial decisions for the EU