ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Stability. Of all the qualities of good money, stability is probably the most essential one. The value of money cannot change for a long period of time and hence remain stable.

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: -Examples of consumer durables include appliances such as washers, dryers, refrigerators, and air conditioners; tools; computers, televisions, and other electronics; jewelry; cars and trucks; and home and office furnishings.

Detailed explanation-4: -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-5: -Tangible products that can be stored or inventoried and that have an average life of at least three years.