The concept of the foreign exchange market. Main types of currency markets

The international exchange of goods, services and capital requires the implementation of appropriate calculations, the implementation of which requires the exchange of one currency for another. As a result, importers, exporters, investors, trade intermediaries, other businessmen, tourists are forced to convert both national and foreign currency for the final settlement of foreign trade relations. Currency […]

Approaches to the classification of services

The concept of “service” includes a complex of diverse types of human economic activity, causing the existence of various options for classifications of services. International practice identifies the following 12 service sectors, which in turn include 155 subsectors: commercial services; postal and communication services; construction works and structures; trade services; education services; environmental protection services; […]

Monetary system: concept, structure and types

Money plays an exceptional role in a market economy, the functioning of which is based on commodity-money relations. Money is often called the language of the market, since with their help the circulation of goods and resources is carried out. Therefore, the market is impossible without money, without money circulation. Money circulation is a continuous […]