ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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. Portability: Money must be easily moved around.

Detailed explanation-2: -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-3: -Durability. Durability of money is such that it can be used over and over again; hence it must survive wear and tear for long periods. In business you cannot always rely on paper money coming in so branch out and allow for online transactions.

Detailed explanation-4: -Durability. Objects used as money must withstand physical wear and tear. People need to be able to take money with them as they go about their business. To be useful, money must be easily divided into smaller denominations, or units of value.