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Flashcards in Characteristics of Money Deck (6)
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The item must be able to exist for a long time without deterioration

Durability

1

Means that individuals are able to carry money with them and transfer it easily to other individuals

Portability

2

Means that the money can be divided into smaller units of value

Divisibility

3

All versions of the same denomination of currency must have the purchasing power.

Uniformity

4

Means that restrictions on the amount of money in circulation ensure that values remain relatively constant for the currency.

Limited Supply

5

Everyone must be able to use the money for transactions.

Acceptability