chapter1thepaymentsystem-全文預(yù)覽
【正文】 iew of the financial payment system The purpose of a financial system The purpose of a financial system is to arrange the exchange of goods and services for value ( ). Without a payment system,what shall we do? Without a payment system,what shall we do? Without a payment system, goods and services would have to be exchanged for each other in order to allow people to consume things that they have not produced for themselves . Barter system The functions of money medium of exchange unit of account (standard of value ) store of value Money is the medium of exchange Money is the medium of exchange in the payment system. This is much more efficient payment system as it overes the need to find someone who wants to trade their items for someone else’s. The forms of money Moneys es in many forms . Precious metals (gold) were the initial forms of payment . (in Australia rum also served this role ). Even today ,gold remains a important store of value to support payment system ,but money is a more efficient store of value (especially when held in the form of bank deposits) and it is the basis of almost all payment systems. The primary form of money is legal tender(法償貨幣）， prising notes and coins issued by the government . For example ,a ＄ 10 note is a promise by the government to pay the holder ＄ 10 . When the cur
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