Functions of money

Front

What is the purpose of money?

Back

To measure the value of goods and services

Front

Why is money fit for purpose?

Back

Because it can be used in transactions.

Front

Which function of money refers to its ability to provide a common measure of value for goods?

Back

Unit of account

Front

What is the drawback of the bartering system?

Back

Coincidence of wants

Front

What are some factors that influence the role of money?

Back

Interest rates

Front

What is a common principle of financial planning?

Back

Avoid getting into debt

Front

What is the method of payment that involves a fixed amount of money being paid regularly to a person or organization?

Back

Standing order

Front

Which type of bank account provides the user with a range of additional benefits such as holiday insurance and car breakdown cover?

Back

Packaged premium account

Front

What are some examples of investment products?

Back

Individual Savings Accounts (ISAs), Bonds and gilts, Shares

Front

Which body is responsible for consumer protection in the financial services industry? Options: FCA, FOS, FSCS, OFT

Back

FCA