← CSEC Principles of Business lessons

1.3 - 1.4 - Instruments of Exchange and Instruments of Payment

⭐ +195 XP
  • ✓identify instruments of exchange
  • ✓interpret information shown on instruments of payment
  • ✓use correct business terms: drawer, drawee and payee
  • ✓explain modern payment channels: tele-banking, ATMs and e-commerce
  • ✓explain key instruments: bills of exchange, money orders, debit cards and credit cards
⏱ 0 mins🎯 39 marks
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Imagine it is Market Day in Bridgetown. A customer wants to buy a handmade bag for $120. They do not have cash, but they offer to pay using a card, a money order, or an online transfer. Which option is safest, fastest, and gives proof of payment?
💡Engage
💡Engage
💡EngageQuestion 5 of 8

Which statement do you think best describes instrument of exchange?

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💡Engage
Imagine it is Market Day in Bridgetown. A customer wants to buy a handmade bag for $120. They do not have cash, but they offer to pay using a card, a money order, or an online transfer. Which option is safest, fastest, and gives proof of payment?
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