Money is more than just a medium for daily transactions; it plays several critical roles in our economy. Without money, exchanging goods and services would be much more complicated. Let’s learn the primary functions of money and understand how it powers the economy.
Durability : It must withstand physical wear and tear to be used repeatedly.
Portability : Money should be easy to carry and transfer.
Divisibility : It must be divisible into smaller units to facilitate various transaction sizes.
Uniformity : All units of money should be consistent in terms of value and appearance.
Limited Supply : A controlled supply helps maintain its value.
Acceptability : Money must be widely accepted in exchange for goods and services.
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