Qualities of money - SS1 Commerce Past Questions and Answers - page 1
Which quality of money ensures that it is widely accepted by individuals and businesses?
Acceptability
Divisibility
Durability
Which quality of money ensures that it is widely accepted by individuals and businesses?
Acceptability
Divisibility
Durability
What quality of money allows it to be easily divided into smaller units for transactions?
Acceptability
Divisibility
Durability
Which quality of money ensures that it can withstand wear and tear over time?
Acceptability
Durability
Portability
Which quality of money refers to its ease of carrying and transportation?
Portability
Divisibility
Divisibility
What quality of money helps maintain its value by limiting its supply?
Uniformity
Scarcity
Acceptability
Why is acceptability an important quality of money?
Acceptability ensures that money is widely recognized and trusted as a medium of exchange, allowing for smooth transactions and economic activity.
How does the quality of divisibility contribute to the convenience of money?
Divisibility allows money to be easily broken down into smaller units, enabling flexibility in making purchases and receiving change, thus making transactions more convenient.