Question

The payments system is

A) the method of conducting transactions in the economy.
B) used by union officials to set salary caps.
C) an illegal method of rewarding contracts.
D) used by your employer to determine salary increases.

Answer 1

The payments system is the method of conducting transactions in the economy.

Step-by-step explanation:

The payments system is the method of conducting transactions in the economy. It helps an economy exchange goods and services for money or other financial assets. The payments system includes various forms such as cash, checks, credit cards, and electronic transfers.