Characteristics & Functions of Money
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Last updated 9:50 PM on 3/26/25
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7 Terms
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Portability
Can be easily moved around
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Durability
Not easily destroyed
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Divisibility
Divides money into smaller amounts
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Available and limited supply
Demand exceeds the supply leading to shortages and increased prices
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Medium of exchange
A universally accepted means of payment
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Standard or Measure of Value
An agreed upon worth of a country’s medium of exchange
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Store of Value
Retains value over time
Note 
Flashcards (29)