Money and its characteristics

By |2022-09-15T12:43:47+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Money. Image credit Money. Image credit ZIMSEC O Level Commerce Notes: Money and its characteristics

  • Money was developed to overcome some of the problems of barter trade.
  • There are many forms of money viz:
  • Bank notes and coins
  • Cheques
  • Money orders
  • Bills of exchange
  • Postal Orders

Legal tender

  • Bank notes and coins are legal tender.
  • These are issued […]