Functions and Properties of money

A saving account in a bank represents the function of money:

• Store of value

• A medium of exchange

• A standard for deferred payments

• A measure of value

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

• Durability

• Portability

• Divisibility

• Scarcity

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

• Scarcity

• Divisibility

• Durability

• Portability

Money has what if it can be broken down into smaller units so it can be used as needed?

• Divisibility

• Portability

• Scarcity

• Durability

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

• Portable

• Durable

• Divisible

• Scarce

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

• Measure of value

• Medium of exchange

• Scarcity

• Store of Value

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

• Measure of value

• Store of value

• Divisibility

• Medium of exchange

Privately owned, publicly controlled, central bank of the U.S.

• National Bank

• Federal Reserve System

• State Bank

• Barter Economy

What are the 3 functions of money?

• Measure of Gold

• Store of Value

• Medium of Exchange

• Store of Bank Notes

• Measure of Value

People agree that paper notes are money

• acceptability

• portability

• durability