What are the six characteristics of money? explain how the u.s. dollar has those six characteristics?

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17-10-2017
Business

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What are the six characteristics of money? explain how the u.s. dollar has those six characteristics?

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kawaii4ever17 kawaii4ever17 · Answer 1 · 2017-10-17T04:07:17+02:00

1. durability- objects used as money must withstand physical and tear
2. portability- people need to be able to take money with them as they go about their business
3.divisibility-to be useful, money must be easily divided into into smaller denominations, or units of value
4.uniformity- any two units of money must be uniform or the same in the terms of what they will buy.
5.limited supply- money must be available only in limited quantities
6.acceptability- Everyone must be able to exchange the money for goods and services

Tundexi Tundexi · Answer 2 · 2022-01-04T12:40:39+01:00

Money refers to any acceptable medium of exchange used in settling of debt and fund transactions.

Some characteristics of general money includes:

Durability: Money must e able to withstand physical, tear, pressure.

Portability: People need to be able to take money with them as they go about their business

Divisibility: Money must be easily divided into into smaller denominations or units of value.

Uniformity: Money must be uniform.

Limited supply: Money must be available only in limited quantities

Acceptability: It must be acceptable for exchange of goods and services

Hence, the U.S. dollar has the characteristics explained above