Get premium membership and access questions with answers, video lessons as well as revision papers.

Highlight the properties of money as a medium of exchange

      

Highlight the properties of money as a medium of exchange

  

Answers


Dana
Durability: money needs to be durable to withstand the frequent movement from one hand to another as a medium of exchange
Acceptability: money must be acceptable by those engaging in transactions otherwise it will fail as a medium of exchange
Divisibility: money should be divisible to facilitate effective exchange since different goods and services fetch different prices
Portability: money should not be cumbersome to carry
Liquidity: money should be easy to carry out transactions using it

Dana05 answered the question on August 14, 2019 at 07:13


Next: Find the current through the diode in the circuit shown in Fig. 3.10
Previous: Discuss the process of money creation by commercial banks

View More Economics Questions and Answers | Return to Questions Index


Learn High School English on YouTube

Related Questions