ECS3701
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ECS3701 15
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ECS3701 FULL EXAM PACK NEW MODIFIED CURRENTLY TESTED AND APPROVED GRADED A+ 2026 NEW UPDATE
- Examen
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ECS3701 FULL EXAM PACK NEW MODIFIED CURRENTLY TESTED AND APPROVED GRADED A+ 2026 NEW UPDATE
Part 1: Definition and functions of money (15 Marks) 
Answer all questions in part 1. 
1.1 List and explain the three primary functions of money. (2) 
Medium of Exchange: money serves as a medium of exchange allowing 
it to be used as payment for goods and services. As such it promotes 
economic efficiency by reducing the time taken for transactions to take 
place. 
Unit of Account: used to measure value of goods and services in an 
economy and helps to reduce transaction costs. 
Store of Value:...
- Examen
- • 157 páginas's •
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ECS3701•ECS3701
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Part 1: Definition and functions of money (15 Marks) 
Answer all questions in part 1. 
1.1 List and explain the three primary functions of money. (2) 
Medium of Exchange: money serves as a medium of exchange allowing 
it to be used as payment for goods and services. As such it promotes 
economic efficiency by reducing the time taken for transactions to take 
place. 
Unit of Account: used to measure value of goods and services in an 
economy and helps to reduce transaction costs. 
Store of Value:...
Monetary Economic – ECS3701 
CHAPTER 1 - WHY STUDY MONEY, BANKING AND FINANCIAL MARKETS. 
WHY STUDY FINANCIAL MARKETS 
Financial markets such as bond and stock markets are crucial to promoting greater economic efficiency by 
channeling funds from people who do not have a proper use to people who do. Well functioning financial markets 
are a key to producing high economic growth and have direct effects on personal wealth, behavior on business 
consumers and the cyclical performance of the econo...
- Resumen
- • 106 páginas's •
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Monetary Economic – ECS3701 
CHAPTER 1 - WHY STUDY MONEY, BANKING AND FINANCIAL MARKETS. 
WHY STUDY FINANCIAL MARKETS 
Financial markets such as bond and stock markets are crucial to promoting greater economic efficiency by 
channeling funds from people who do not have a proper use to people who do. Well functioning financial markets 
are a key to producing high economic growth and have direct effects on personal wealth, behavior on business 
consumers and the cyclical performance of the econo...