What is purpose of money?

What are the 3 purposes of money?

In summary, money has taken many forms over the centuries, but it has consistently three functions: store of value, unit of account, and medium of exchange. To see also : What is the name Bob mean?.

What are the 4 goals of money? Money has several functions: a medium of exchange, a unit of account, a store of value, and a deferred payment standard.

What are the 3 types of money?

Economists distinguish between three different types of money: commodity money, fiscal money and bank money. Commodity money is a good whose value serves as the value of money. Gold coins are an example of a commodity money.

What are the 8 characteristics of money?

The features of good money are: To see also : What do rich people do with their money?.

• General acceptance.
• Mobility.
• Durability.
• Divisibility.
• Homogeneity.
• Recognition.
• Stability.