Question

Explain why an item has to be generally acceptable and divisible for it to carry out the functions of money.

Answer 1

Answer:

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Answer. Money serves as a medium of exchange for all kinds of goods and services. Money facilitates both buying and selling of goods and services. Today's modern economy—based on specialization and division of labour—cannot be imagined in the absence of a generally acceptable medium of exchange.

Answer 2

Answer:

. Money serves as a medium of exchange for all kinds of goods and services. Money facilitates both buying and selling of goods and services. Today's modern economy—based on specialization and division of labour—cannot be imagined in the absence of a generally acceptable medium of exchange.