what are the qualities of Money?
4 to 5 Qualities should be mentioned.
plz answer it.
Answers
Answer :-
QUALITIES OF MONEY :-
The Qualities of money are as follow :
(1) General Acceptability :
▶️ Anything which is used as money must be easily accepted by all for the exchange purpose.
(2) Divisibility :
▶️ Money should be easily divisible into smaller denominations to facilitates small transactions.
(3) Durability :
▶️ Money should also possess the characteristics of durability. Currency notes and coins are being used repeatedly and shall continue to do so for years together on the account of durability.
(4) Homogeneity :
▶️ Money of a particular denomination must be homogeneous or identical in its features.
(5) Recognizability :
▶️ Money must be easily recognised. it should have certain distinct marks so as to avoid confusion by receiving person.
Thus,
these were some of the Qualities of Money.
#AnswerWithQuality
#BAL
Explanation:
2) Divisibility : ▶️ Money should be easily divisible into smaller denominations to facilitates small transactions.
(3) Durability : ...
(4) Homogeneity : ...
(5) Recognizability :