money

Money (2 answers)

• a bank card that automatically deducts the amount of a purchase from your checking account

• any item (coins and paper) that is used as payment for products.

• the income received by property owners in the form of rent.

• Coins and paper used as a standard for trade

What are the 3 functions of money that must be present to be money?

• Measure of Gold

• Store of Value

• Medium of Exchange

• Store of Bank Notes

• Measure of Value

Money is a medium of exchange, measure of value, and store of value these are examples of?

• functions of money

• federal reserve notes

• formerly used currencies

• characteristics of money

Money can be kept and retain its value over time. Does not have to be spent immediately

• Store of value

• Divisibility

• Portability

• Measure of value

Expresses worth of an item in that country's currency

• Medium of exchange

• Standard of deferred payments

• Unit of account (measure of value)

• Store of value

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

• Measure of value

• Medium of exchange

• Scarcity

• Store of Value

Money should be portable, durable, divisible, limited (or scarce) these are examples of?

• functions of money

• federal reserve notes

• formerly used currencies

• characteristics of money

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

• Durability

• Portability

• Divisibility

• Scarcity

Money should be limited (scarce). This means:

• You can control how much of it is in use.

• It shouldn't be too heavy.

• You should use items such as pebbles or leaves.

• It should be either rectangular or circular.

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

• Divisibility

• Portability

• Scarcity

• Durability