We have 189 guests and no members online
The answer should include 4 points with brief explanation. Avoid writing in a list style.
Role of commercial banks:
Functions of money:
In order to get full marks, the answer should include 4 functions with description.
The usual trend of income change is as follows:
There is low earnings at the start in a job, earnings gradually rise with more experience and reach a high point before retirement. However, retirement income is likely to be lower. The income might also be affected by the change in demand for occupation over a lifetime.
The discussion will include a two sided discussion on the importance of wages. The response might include that:
certainly wages are a very important factor to be taken into account. However, other factors also influence the choice of occupation for individuals. These might include:
A one-sided answer can gain only half the marks.
It is true in most of the cases however, wages also depend on:
Factors that can affect an individual’s choice of occupation:
A brief description for each point is required to achieve full marks.
Benefits of a trade union to an individual:
Key word "Discuss' Two sided discussion.
Potential disadvantages:
Potential advantages:
Explanation:
Involves comparing the importance of function of money as a medium of exchange as compared to barter (the direct exchange of goods and services for other goods and services without using money )
The problem with barter was that it relied on a double coincidence of wants, this wasn’t always possible and the use of money as a means of exchange avoids this.
Money is also significantly better as a measure of value, a store of value and a standard for deferred payments.
Possible reasons:
We use cookies on our website. Some of them are essential for the operation of the site, while others help us to improve this site and the user experience (tracking cookies). You can decide for yourself whether you want to allow cookies or not. Please note that if you reject them, you may not be able to use all the functionalities of the site.