Question

HOMOGINITY PORTABILITY COGNIZABILITY CHANGING THE VALUE OF MONEY​

Answer 1

Answer:

Here are some important qualities of good money:

Portability

Apart from its acceptance, good money also requires portability. If people can carry or transfer money from one place to another, then it is good money.

Homogeneity

Look at two 100 rupee notes. They look and feel identical, right? They also have the same value. In fact, nobody can distinguish between two currency notes right out of the mint.

This is an important quality of good money – homogeneity. If money is not homogeneous, then transactions will become uncertain as people would be unsure of what they are receiving.

Cognizability

The ability to recognize money is critically important. Today, we can look at a currency note and tell its value. If money is not cognizable, then people can find it difficult to determine if they are dealing with money or some inferior asset.

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