1 What is money?
 
 

2. Distinguish money from near money.
 
 

3. Likewise distinguish a commodity from a fiat currency
 
 

4. Can an economic system operate without money?
 
 

5. Outline the four major functions of money.
 
 

6. Which of the following represent money (i) €50 note (ii) a bank cheque (iii) a traveller’s cheque (iv) a current account (v) a savings account (vi) financial shares (vii) a credit card?
 
 

7. If a €20 note is money why can I not use it to pay my bus fare?
 
 

8. Distinguish the role of the following financial institutions
    (i) Insurance Companies (ii) Commercial Banks (iii) Building Societies (iv) Credit Unions
 

9. What are the major functions of a Central Bank?
 
 

10. How is the role of our Central Bank now changing within the Eurozone?
 
 

11 Distinguish clearly monetary from fiscal policy.