Explain how $1 has all 6 characteristics of money

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06-07-2021
Business

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Explain how $1 has all 6 characteristics of money

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francocanacari francocanacari · Answer 1 · 2021-07-12T22:44:23-04:00

Answer:

In economics, money is any product or object that can be used as payment or leverage and for the preservation or measurement of valuables. In some cases, money is also required to delay the delivery of "real" valuables. In everyday speech, money is synonymous with the public currencies of certain countries.

The importance of money is that they make barter unnecessary, but barter is often inefficient as it is based on both parties to the transaction having a product that the other party is interested in. Money is simplified, as it is possible to deliver a product to one party in exchange for money and then pay another party for the product requested.

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