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SS1: COMMERCE - 2ND TERM

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  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



Lesson 10, Topic 2
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Qualities/Characteristics of Money

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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.

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