January 2023

Money and Banking: Introduction

By |2022-09-15T12:43:50+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Barter Trade. Image credit passnow.com Barter Trade. Image credit passnow.com ZIMSEC O Level Commerce Notes: Money and Banking: Introduction

  • As already mentioned the development of specialisation led to the development of trade people sought to satisfy their unmet needs and disposed the excess goods and services they had produced.
  • This led to […]
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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 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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