Functions & Characteristics of Money

Front

Which characteristic of money means easily transferred from person to person, to make the exchange of money for products easier?

Back

Portability

Front

Money has ______ if it can be broken down into smaller units so it can be used as needed.

Back

Divisibility

Front

What quality does money have if it doesn't deteriorate when handled frequently?

Back

Durability

Front

Function of money in which it is accepted and used as payment for goods and services.

Back

Medium of exchange

Front

One of three functions of money allowing people to preserve value for future use.

Back

Store of value

Front

Central bank of the U.S. created in 1913 that carries out US monetary policy.

Back

Federal Reserve System

Front

Money

Back

Money is anything generally accepted in payment for goods or services or in the repayment of debts.

Front

Which of the following IS NOT a type of money? Commodity money, Trade money, Representative money, Fiat money

Back

Trade money

Front

Which type of money exists in the United States?

Back

Fiat money

Front

Example of "near money"? Options: Debit cards, Savings accounts, Checking accounts, Credit cards

Back

Savings accounts