Asked in Investing and Financial Markets
Investing and Financial Markets
Characteristics of good money?
Answer
Wiki User
July 16, 2012 2:19PM
Characteristics of Good Money
1. Acceptability - Everyone must accept it to purchase goods and services
2. Durability - It should last a long time
3. Portability - Easy to carry around
4. Scarcity - Scarce enough to be valuable, not common such as sand or pebbles on a beach
5. Divisibility - Can be divided into small units
There are more as well, these are the basic
6. Cognizability
money should be easy to recognize
7. Malleability - money should be Malleable so that it could be made into new money.
8. Uniformity - It means that All version of the same denomination of currency must have the same purchasing power so that very denomination must be in uniform..
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