8 Qualities of Money

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Money is any thing that is aceptable as a form of payment for good or services and the qualities of money includes'

1. Recognisability: Money must be easily recognized and identified by the people. Money must not be fake or counterfeit  Read Also - 6 way to send money abroad

2. Divisibility; money must be capable of being divided into smaller units e.g $100, $20, $50 etc to enable it purchase  both high and low price things

3. Stability: The value of money must be stable. The stability of its value will help the business to be good, predictable and encourage lending and borrowing of money.

4. Durability: Anything to be used as money as money must be able to last long, not perishable and can stand the test of time.

5. General Acceptability: Money must be generally by all in the society or country as a means of exchange.

6. Portability; The object that serves as money must be generally must be easy to carry from one place to another and should be very light in weight.

7. Scarce; money must be relatively scarce that is, it must not be too many in circulation so as not to lose its value.

8. Homogeneity; Each unit of money must be the same in size, color, quality and same nationwide.

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