What is money and importance of money?
money, a commodity accepted by common consent as an economic medium of exchange. To see also : Is saving 500 a month good?. It is the medium in which prices and values are expressed; as a currency, it circulates anonymously from person to person and country to country, facilitating trade, and it is the main measure of wealth.
What is the main role of money? The main function of money is as a medium of exchange to facilitate transactions. Without money, all transactions would have to be carried out through barter, which involves exchanging one good or service for another.
What are the 6 characteristics of money?
Terms in this set (6) See the article : What do you call a female millionaire?.
- Sustainability. Sustainability. …
- Portability. People should be able to take money with them when they are doing their business.
- divisibility. To be useful, money must be able to be easily divided into smaller denominations or units of value.
- Uniformity. …
- Limited offer. …
What are the 6 characteristics of a money quizlet? What are the six characteristics of money? durability, portability, divisibility, uniformity, limited supply and acceptability.