Chapter 8.2: Characteristics and Functions of money

Front

Easily transferred from 1 person to another, to make the exchange of money for products easier.

Back

Portability

Front

Money has what if it doesn't deteriorate when it is being handled?

Back

Durability

Front

What is money if it is available but only in a limited supply?

Back

Scarce

Front

Money or other substance generally accepted as payment for goods and services.

Back

Medium of exchange

Front

1 of the 3 functions of money that allows it to serve as a common denominator to measure value.

Back

Standard of value

Front

1 of 3 functions of money allowing people to preserve value for future use.

Back

Store of value

Front

This can be used in place of money.

Back

Trading or bartering

Front

What is a medium of exchange?

Back

A method of trading

Front

What is this? Options: Paper money, Credit Card, Coins

Back

Bartering

Front

Bartering is trading goods or services with someone, it was used before money was invented

Back

True