Table 1 shows how UK customers of a group of shops paid for purchases. Cash and money held in bank accounts can both perform the functions of money.
| Measure | Earlier year | Latest year |
|---|---|---|
| Transactions paid digitally | 58% | 84% |
| Transactions paid in cash | 38% | 13% |
| Customers with limited digital access | 16% | 11% |
| Reported payment-system outages | 6 | 18 |
Using Table 1, assess whether greater use of digital payments means that cash is no longer necessary.
27 exam-style questions on AQA GCSE Economics 2.5 The role of money and financial markets, covering 2.5.1a Functions of money, 2.5.1b Definition of money, 2.5.2a Agents in the financial sector, 2.5.2b The role of the Bank of England, and 2.5.2c The role of high street banks. Each one has a worked solution and a mark scheme showing where the marks go.