Long gone are the days when the exchange of goods and services was done using the barter system. Mind you, bartering is still being practiced in some shape or form but not as before. In fact, money...

Long gone are the days when the exchange of goods and services was done using the barter system. Mind you, bartering is still being practiced in some shape or form but not as before. In fact, money has evolved so much so that many goods and services in many countries can now be paid for using cashless methods. There are however, some countries such as Japan that still functions as a predominantly cash based society.

• Using examples, discuss TWO advantages and ONE disadvantage of using cash as the main medium of exchange.

• Using examples, discuss TWO advantages and ONE disadvantage of using electronic money as the main medium of exchange.