ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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portability
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divisibility
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limited availability
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all of these are correct
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Detailed explanation-1: -The characteristics of money are durability, portability, divisibility, uniformity, limited supply, and acceptability.
Detailed explanation-2: -in fact, a variety of items have been used as money over the centuries. The items that worked the best tended to have four basic characteristics: portability, divisibility, durability, and acceptability.
Detailed explanation-3: -Money is often defined in terms of the three functions or services that it provides. Money serves as a medium of exchange, as a store of value, and as a unit of account. Medium of exchange. Money’s most important function is as a medium of exchange to facilitate transactions.
Detailed explanation-4: -(a) It serves as a medium of exchange. (b) It serves as a standard unit of value. (c) It serves as a means for future / contractual payments or standard of deferred payments. (d) It serves as a store of value.
Detailed explanation-5: -Durability. Portability. Divisibility. Uniformity and Fungibility. Limited supply. Acceptability.