Legal tender: coins and paper money, as defined by the Government of Canada




Legal tender: coins and paper money, as defined by the Government of Canada, that must be accepted as payment for good or services.

  • Coins are minted, or manufactured, at the Royal Canadian Mint headquarters in Ottawa or at the Mint�s Winnipeg branch. 
  •  The Bank of Canada issues paper money, also known as bank notes.
To prevent counterfeiting, the production of fake money, Canada�s bank notes have certain security features. 
Let�s have a look:

New Canadian Bank Notes: Security Features
  • holographic stripe
  • watermark portrait
  • see through numbers
  • security threads

Counterfeiting -  Wesley Weber (Pleaded Guilty in 2001)

  • Money changing purchasing power-
  • Prices for goods & services increase over time: Inflation-
  • Measured by the consumer price index: a basket of goods

What is income?

Income is money that an individual or business receives in exchange for goods or services.
  •  Personal Income 
  •  Gross income � the total amount of income received by a person.
  •  Disposable income � the income we actually take home after taxes are paid. 
  •  Discretionary income � income left after necessities are paid for 
The daily financial activities connected to using your limited income to satisfy all your needs and wants. 

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