Money and its characteristics

By |2022-09-15T12:43:47+02:00June 29th, 2015|Notes, O Level Commerce Notes, Ordinary Level Notes|

Money. Image credit noirg.org

Money. Image credit noirg.org 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 […]

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