The payments system is
A)the mechanism for conducting economic transactions.
B)another name for the system of foreign exchange rates.
C)the phrase used to describe how transactions are carried out in an economy that does not use money.
D)the way in which economic transactions are carried out in a government-controlled economy, such as the former Soviet Union.

Question

Quizplus · Accepted Answer

The payments system refers to the method or mechanism by which economic transactions are conducted, including the transfer of funds between different parties. It involves the use of payment methods such as cash, checks, credit cards, and electronic payment systems.

The Payments System Is