What does it mean to say that money is divisible?
In the United States today, what gives money its value?
What does the statement "This note is legal tender for all debts, public and private” guarantee?
Which phrase best defines the liquidity of money?
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More liquid categories of money are part of [___].Less liquid categories are included in [___].
What are the three main purposes of money? In your answer, be sure to explain why each purpose helps us to eliminate the need for bartering.
Money is a medium of exchange, a unit of account, and a store of value. As a medium of exchange, it lets people buy and sell without finding someone who wants exactly what they offer, as barter requires. As a unit of account, it gives goods and services common prices so people can compare values easily. As a store of value, it lets people save purchasing power for the future instead of having to trade goods right away.
Which of these factors are included in your response? Check all that apply.
What does it mean to say that money is divisible?
In the United States today, what gives money its value?
Which of these factors are included in your response? Check all that apply.
Why is it important that money is portable and acceptable?In at least two complete sentences, describe the consequences you would face if money did not have these two qualities.
If money were not portable, it would be difficult to carry it around and make purchases. If money were not acceptable, people might be confused about what forms of money they can use or refuse to accept it, making it harder to exchange value.
What does the statement "This note is legal tender for all debts, public and private” guarantee?
Which phrase best defines the liquidity of money?
More liquid categories of money are part of .Less liquid categories are included in .
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