What are the 6 characteristics of money quizlet?
Terms in this set (6)
- Durability. Durability.
- Portability. People need to be able to take money with them as they go about their business.
- Divisibility. To be useful, money must be easily divided into smaller denominations , or units of value.
- Uniformity.
- Limited Supply.
- Acceptability.
How many characteristics of money are there?
The four primary characteristics of money are: (1) durability, (2) divisibility, (3) transportability, and (4) noncounterfeitability.
What are the 4 characteristics of money quizlet?
Durability.
What are the 6 functions of money?
The following points highlight the top six functions of money.
- Function # 1. A Medium of Exchange:
- Function # 2. A Measure of Value:
- Function # 3. A Store of Value (Purchasing Power):
- Function # 4. The Basis of Credit:
- Function # 5. A Unit of Account:
- Function # 6. A Standard of Postponed Payment:
What are the 8 characteristics of money?
Top 8 Qualities of an Ideal Money Material
- General Acceptability:
- Portability:
- Indestructibility or Durability:
- Homogeneity:
- Divisibility:
- Malleability:
- Cognizability:
- Stability of Value:
Are useful characteristic of money is that money?
There have been many forms of money in history, but some forms have worked better than others because they have characteristics that make them more useful. The characteristics of money are durability, portability, divisibility, uniformity, limited supply, and acceptability.
What are the 7 characteristics of free enterprise?
Terms in this set (7)
- economic freedom. people can use their jobs employer and how to spend their money.
- voluntary exchange. buyers and sellers may engage freely and willingly in the market transaction.
- private property rights.
- profit motive.
- competition.
- limited government.
- equal oppurtunity.
What are the characteristics of good money?
The qualities of good money are:
- General acceptability.
- Portability.
- Durability.
- Divisibility.
- Homogeneity.
- Cognizability.
- Stability.
What are the characteristics of currency?
The characteristics of a currency are durability, portability, divisibility, uniformity, limited supply, and acceptability.
What are six characteristics of free enterprise?
They are: economic freedom, voluntary (willing) exchange, private property rights, the profit motive, and competition. Some of these features may already be familiar.
What are the five characteristics of money?
The characteristics of money are durability, portability, divisibility, uniformity, limited supply, and acceptability.
How many characteristics must money have?
Now that we know what the functions of money are, it’s time to take a look at its characteristics. In general, there are four main characteristics that money should fulfill: durability, divisibility, transportability, and inability to counterfeit.
What are the functions of money economics?
In general terms, the main function of money in an economic system is “to facilitate the exchange of goods and services and help in carrying out trade smoothly.” Its basic characteristic is general acceptability.