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6 characteristics of money pepe unchain Bnb Eth XRP aave Bitcoin Bonk

What are the 6 characteristics of money?

The six characteristics of money are durability, portability, acceptability, limited supply, divisibility and uniformity. Money acts as a unit of account, a medium of exchange and a store of value. Durability means that dollar bills or coins are easily replaceable should they become damaged.

What are the characteristics of money?

Some forms of money do a better job with money’s three functions—and are more convenient to use. There are six characteristics of money that make it useful, Wolla said in the Econ Lowdown podcast episode: durability, portability, divisibility, uniformity, limited supply and acceptability.

What are the three main functions of money?

Money acts as a unit of account, a medium of exchange and a store of value. Durability means that dollar bills or coins are easily replaceable should they become damaged. Portability means that money can easily be transported from one location to the next. Acceptability means that money is commonly accepted as a value exchange mechanism.

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