durability of money

Some examples of durables are appliances, home and office furnishings, lawn and … 48) Which of the following best describes the stability characteristic of money? All the great aspects of quartz—durability, non-porous, ability to custom design—come with a cost. Medium of Exchange First and foremost, money acts as a medium of exchange that facilitates commercial transactions. The gold and silver coins do not wear out quickly and quality of money remains the same. Durability: Money should be durable. This characteristic means that the item used as money retains its phyhsical structure and institutional value. It is a common myth that traditional economies usually functioned on a system of barter such that goods were directly exchanged. Term durability Definition: One of four characteristics that enables an asset to better function as money.The other three are transportablity, divisibility, and non-counterfeitability. Homogeneity 5. ADVERTISEMENTS: Top eight qualities of an ideal money material are: 1. JOHANNA: Thanks. Durable banknote papers Banknote paper with enhanced durability is a recent development, designed to meet the growing need for popular low-denomination banknotes to withstand extreme wear. Money is recognizable. The printing of notes is secret. Durables is a category of consumer goods that do not have to be purchased frequently. Money can be exchanged for goods, services and labor. Money is a medium of exchange that market participants use to engage in transactions for goods and services. General Acceptability: ADVERTISEMENTS: It is the very essence of money. Divisibility 6. ... TOM: Thanks so much for calling us at 888-MONEY-PIT. Indestructibility or Durability 4. I think durability of composite decking is a perception issue. Recognizable: Good money is recognized either by sight or touch. An ideal money material should possess the following qualities: 1. Cognizability 8. This requires a coincidence of wants and is extremely inefficient. General Acceptability 2. Unless a person knows […] The price of quartz countertops ranges between $50 and $150 per square foot, including installation, but the actual cost depends on the quality of quartz, manufacturer, style, design, and type of edging. Changes in the purchasing power of money, i.e., in the exchange ratio between money and vendible goods and commodities, can originate either from the side of money … By being durable, money does not easily wear out or deteriorate. A) Units of money do not expire after a certain time limit. Everyone must find it very easy to recognize it and know its value. Malleability 7. Our Podcasts. 47) Which of the following best describes the durability characteristic of money? If you think that there is zero maintenance – “I’m never going to have to do anything at all” – you’re not going to find any product like that. Money is durable. If money is not recognizable by the general public then it cannot be called money. With the ongoing fraudulent issues associated with counterfeit money, it is important to be familiar with these categories. Portability 3. Answer (1 of 17): The characteristics of money can be divided into six different categories: Durability, portability, divisibility, uniformity, limited supply, and acceptability. It should not lose its value with the passage of time. Stability of Value!

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