Back to Course

SS1: COMMERCE - 2ND TERM

0% Complete
0/0 Steps
  1. Modern Trends in Retail Business | Week 1
    2 Topics
    |
    1 Quiz
  2. The Wholesaler | Week 2
    5 Topics
    |
    1 Quiz
  3. Warehouse | Week 3
    3 Topics
    |
    1 Quiz
  4. Foreign Trade (International) | Week 4
    6 Topics
    |
    2 Quizzes
  5. Tariffs & Reasons for The Imposition of Tariffs | Week 5
    5 Topics
    |
    1 Quiz
  6. Functions of Customs & Exercise | Week 6
    4 Topics
    |
    2 Quizzes
  7. Commodity Exchange | Week 7
    7 Topics
  8. Sole Proprietorship | Week 8
    2 Topics
    |
    1 Quiz
  9. Partnership | Week 9
    5 Topics
    |
    6 Quizzes
  10. Money | Week 10
    3 Topics
    |
    2 Quizzes



  • Do you like this content?

  • Follow us

Lesson 10, Topic 2
In Progress

Qualities/Characteristics of Money

Lesson Progress
0% Complete

1. Portability: anything that should be used as money must not be bulky to be carried about.

2. Acceptability: the commodity to be used as money must be generally acceptable to people in a particular state or country.

3. Durability: anything called money must be able to last for a long time without getting spoilt or damaged.

4. Divisibility: Anything to be used as money must be capable to be divided into denominations. It will make it possible for payments to be made in small units.

5. Universality: Money must be unique or special from all other commodities in order for people to differentiate it from other commodities.

6. Recognition: People in a particular community state or country must be able to recognize what money is, so money must be identical in colour, size, etc

7. Scarcity: It must be relatively scarce in order not to lose its value.

8. Homogeneity: Each unit of money must be the same in size, colour, and quality

9. Stability: The value of money must be stable. The stability of its value will help businesses to be predictable and encourage lending and borrowing of money.

10. No Intrinsic Value: The commodity that should serve as money must have little or no value in itself as opposed to its value of exchange.

Responses

Your email address will not be published. Required fields are marked *

back-to-top
error: