Chap 3 essay

Answer each of the essay questions briefly. 

1. Where does the value of fiat money come from if it is not backed by gold or
silver?
2. Give 3 advantages of using checks to pay for goods and services instead of
physical coins and currency.
3. Write about a transaction you did using electronic money/electronic payment.
Give 2 advantages and 1 disadvantage of the availability of electronic money to
pay for goods and services instead of physical coins and currency. You give
advantages and disadvantages that affect you personally or that effect the
economy.

Chap 4 essay

Answer each question briefly. 

1. Differentiate primary financial instruments and derivative financial instruments.

2. Differentiate money market financial instruments and capital market financial
instruments.
3. Different debt-based financial instruments and equity-based financial
instruments.