ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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.

Detailed explanation-2: -The fact that money must withstand the wear and tear that comes from being used over and over again is a measure of its c. durability.

Detailed explanation-3: -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-4: -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-5: -Durability. Portability. Divisibility. Uniformity. Limited supply. Acceptability.