Money is a medium of exchange that market participants use to engage in transactions for goods and services. ADVERTISEMENTS: Top eight qualities of an ideal money material are: 1. It is a common myth that traditional economies usually functioned on a system of barter such that goods were directly exchanged. Changes in the purchasing power of money, i.e., in the exchange ratio between money and vendible goods and commodities, can originate either from the side of money … Durability: Money should be durable. Cognizability 8. This characteristic means that the item used as money retains its phyhsical structure and institutional value. Durables is a category of consumer goods that do not have to be purchased frequently. Unless a person knows […] General Acceptability 2. A) Units of money do not expire after a certain time limit. By being durable, money does not easily wear out or deteriorate. General Acceptability: ADVERTISEMENTS: It is the very essence of money. Our Podcasts. Money is durable. I think durability of composite decking is a perception issue. Homogeneity 5. 47) Which of the following best describes the durability characteristic of money? Everyone must find it very easy to recognize it and know its value. All the great aspects of quartz—durability, non-porous, ability to custom design—come with a cost. Medium of Exchange First and foremost, money acts as a medium of exchange that facilitates commercial transactions. 48) Which of the following best describes the stability characteristic of money? An ideal money material should possess the following qualities: 1. Some examples of durables are appliances, home and office furnishings, lawn and … Indestructibility or Durability 4. JOHANNA: Thanks. Durable banknote papers Banknote paper with enhanced durability is a recent development, designed to meet the growing need for popular low-denomination banknotes to withstand extreme wear. With the ongoing fraudulent issues associated with counterfeit money, it is important to be familiar with these categories. The gold and silver coins do not wear out quickly and quality of money remains the same. Malleability 7. It should not lose its value with the passage of time. Stability of Value! ... TOM: Thanks so much for calling us at 888-MONEY-PIT. Term durability Definition: One of four characteristics that enables an asset to better function as money.The other three are transportablity, divisibility, and non-counterfeitability. Divisibility 6. Answer (1 of 17): The characteristics of money can be divided into six different categories: Durability, portability, divisibility, uniformity, limited supply, and acceptability. If money is not recognizable by the general public then it cannot be called money. The printing of notes is secret. Money can be exchanged for goods, services and labor. If you think that there is zero maintenance – “I’m never going to have to do anything at all” – you’re not going to find any product like that. Recognizable: Good money is recognized either by sight or touch. Portability 3. The price of quartz countertops ranges between $50 and $150 per square foot, including installation, but the actual cost depends on the quality of quartz, manufacturer, style, design, and type of edging. This requires a coincidence of wants and is extremely inefficient. Money is recognizable.