You are the owner of a small sandwich shop. A buyer may offer one of several payment methods: cash, a check drawn on a bank, a credit card, or a debit card. Which of these is the least costly for you? Explain why the others are more expensive.
Answer to relevant QuestionsExplain how money encourages specialization, and how specialization improves everyone’s standard of living.What factors should you take into account when considering using the following assets as stores of value?a. Goldb. Real estatec. Stocksd. Government bondsOver a nine-year period in the 16th century, King Henry VIII reduced the silver content of the British pound to one-sixth its initial value. Why do you think he did so? What do you think happened to the use of pounds as a ...While we often associate informal financial arrangements with poorer countries where financial systems are less developed, informal arrangements often co-exist within the most developed financial systems. What advantages ...What risks might financial institutions face by funding long-run loans such as mortgages to borrowers (often at fixed interest rates) with short-term deposits from savers?
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