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chapter 1 finance. Some features that aren't as straight forward have a separate card
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The 8 features of money
Acceptable, recognisable, stable, divisible, durable, portable, scarce but sufficient, homogeneous
STABLE (feature)
Coins + banknotes should maintain the same value so people can know it will have the same value later.
SCARCE BUT SUFFICIENT (feature)
Can’t be too much in circulation as as the value will fall
HOMOGENOUS (feature)
Need to look and feel the same + any changes made should be informed
Functions of money
A unit of account, a means of exchange, a means of borrowing, and a store of value
MEANS OF EXCHANGE additional points (function)
. Coins > £1 are only legal tender for debts up to £10
. Legal tender = recognised +accepted by government
Security features of money
Ultraviolet features, metallic thread, micro lettering, watermarks, holograms