BANKING AFFAIRS

Detailed explanation-1: -Durability is the ability of a good to retain its original state overtime. In order to be considered durable, a good must be difficult to damage or alter. Durability is a necessary property of money because the money must be able to sustain its value over time.

Detailed explanation-2: -Durability: Any item used as money must be durable. A perishable item such as a banana becomes useless as money when it spoils. Even early societies used durable forms of money, such as metal coins and paper money, which lasted for a long time.

Detailed explanation-3: -The characteristics of money are durability, portability, divisibility, uniformity, limited supply, and acceptability.

Detailed explanation-4: -Detailed Solution. The correct answer is Used for regulating consumption. Money serves as a medium of exchange, as a store of value, and as a unit of account. The medium of exchange: Money’s most important function is as a medium of exchange to facilitate transactions.