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What you meant by monetary function in financial system?
A significant function of a financial system is the monetary function. The introduction about money in the economy enables savers and spenders to divide the act of sale by the act of purchase and permits them to overcome the chief problem of barter, that is the ‘double coincidence of wants’ (each of the two parties included in a transaction has to want concurrently the good the other party is giving to exchange). The financial system gives a variety of payment mechanisms for example, cheques, credit cards and debit cards to make possible one party to pay another.
I need to understand a practice question for exam, but I only have a partial solution. I need a more detailed solution, so can understand how to arrive at the answer. The problem
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mony is differnt from wealth and income
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how to calculate npv
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