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Economics
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30 May 2019

Why is universal acceptability such an important characteristic of money? What other characteristics can you think of that might be important to market participants?

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Trinidad Tremblay
Trinidad TremblayLv2
2 Jun 2019

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Related questions

The people of Yap, an island in Micronesia, have used giant stone wheels called rai when executing certain exchanges. The rai are heavy and therefore cannot be easily used to make daily transactions in a modern economy. What primary characteristic of good money would be violated by using the rai as money in our economy?

Portability
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In many parts of the world, U.S. dollars are preferred to the local currency. Significant black markets that use U.S. dollars and not the local currency may arise in these countries. What primary characteristic of good money is violated by the local currency in these countries?

Acceptability
Uniformity
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Federal Reserve notes are printed on paper that is made from 75 percent cotton and 25 percent linen. This high-quality paper ensures that a $1 bill left in the pocket of your jeans can survive your washing machine and dryer. If Federal Reserve notes were printed on copier paper, what primary characteristic of good money would likely be violated?

a)Uniformity
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e)Durability
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