Economics

Define each of the following terms

barter

money

List three characteristics of money

Explain how inflation can affect any two function of money

state each of the following abbreviation in full

IMF

CSME

WTD

FDI

CARICOM

List TWO characteristics of Caribbean economics

Define each of the following terms

Need

Wants

Opportunity cost

Define the term economic goals

List THREE economic goal of a government

Define the following terms

Economic system

Capital goods

Give one example of a capital item

Exaplain each of the following terms

Deflation

Unemployment

Define the following terms

Investment

Savings

Define the term” liquidity”

List Four function of a commercial bank