Money makes the payments system work. The payments system is the web of arrangements that allows people
Question:
Money makes the payments system work. The payments system is the web of arrangements that allows people to exchange goods and services. There are three broad categories of payments, all of which use money at some stage.
a. Cash
b. Checks
c. Electronic payments
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Indeed money is essential for facilitating transactions within the payments system which encompasses various methods of exchanging goods and services ...View the full answer
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Related Book For
Money Banking And Financial Markets
ISBN: 9781260226782
6th Edition
Authors: Stephen Cecchetti, Kermit Schoenholtz
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