Table 1 shows the current account balances of a local drama group and a costume hire business immediately before and after the drama group paid the business for costume hire by bank transfer.
| Account holder | Balance before the payment | Balance after the payment |
|---|---|---|
| Local drama group | £684 | £636 |
| Costume hire business | £2,315 | £2,363 |
Using Table 1, explain why the drama group paid the costume hire business with money, even though no notes or coins were used.
60 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.