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Chapter 2 of ECO102 covers the concept of money, its functions, types, and the monetary policy in South Africa. It explains money as a medium of exchange, unit of account, and store of value, while also discussing the creation of money through fractional-reserve banking and the role of the South African Reserve Bank. The chapter emphasizes the demand for money and its relationship with economic activity and monetary policy.

Author

tshotlhanglsg25

Language

EN