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Money - Characteristics Flashcards | StudBud
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Money - Characteristics
It must have a controlled supply
Easily divided into smaller units
Money - Characteristics
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Economics basics about money
Flashcards
13 cards
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Questions
13
Answers
1
Easily divided into smaller units
Uniformity
Acceptability
Divisibility
Durabilty
2
It must have a controlled supply
Acceptability
Uniformity
Scarcity
Divisibility
3
Money which has value because the government states that it is an acceptable means to pay debts
Fiat Money
Medium of Exchange
Legal Tender
Representative Currency
4
Money keeps its value if you hold on to it
Unit of Account
Store of Value
Medium of Exchange
Valuable Storage
5
Able to withstand a lot of use
Divisibility
Portability
Uniformity
Durability
6
Type of money that has value because the government states it is acceptable to pay debts.
Representative Money
Reserve Currency
Medium of Exchange
Fiat Money
7
An object of value for which it can be exchanged
Store of Value
Representative Money
Legal Tender
Fiat Money
8
Ability to be accepted by all people in society
Divisibility
Scarcity
Acceptability
Uniformity
9
Bank established by Congress in 1913 to be the nations first true central bank
US Federal Bank
US Central Bank
Bank of America
Federal Reserve
10
Anything used to measure value during the exchange of goods and services
Currency
Medium of Exchange
Unit of Account
Store of Value
11
Easily carried and transferred
Uniformity
Divisibility
Acceptability
Portability
12
Represents an object of value for which it can be exchanged
Reserve Currency
Fiat Money
Representative Money
Federal Reserve Notes
13
A way to compare the value of good and services
Store of Value
Unit of Account
Unit of Currency
Medium of Exchange
