The functions of money include; (1)  medium of exchange,  (2)  store of value, and (3)  a calculate of worth.  Due to money is acceptable as a form of payment for all commodities, barter is no longer Required.  Money can be easily stored in a tin can or bank account, so commodities require not be stored and can be purchased when needed.  Because money is acceptable in virtually all transactions, prices can be stated in terms of dollars or yen thereby simplifying transactions substantially.  In other words, money is the grease that lubricates any difficult economic system

 

Posted Date: 4/19/2013 7:06:39 AM | Location : United States

Ask an Expert

Related Discussions:- What functions include of money, Assignment Help, Ask Question on What functions include of money, Get Answer, Expert's Help, What functions include of money Discussions

Write discussion on What functions include of money
Your posts are moderated

Write your message here..

Related Questions

Mr A, true or false ,It is not possible for the compensated own price elast... true or false ,It is not possible for the compensated own price elasticity to equal the uncompensated own price elasticity.uestion #Minimum 100 words accepted#

3, . Crumble Corporation produces cookies. Here is the relationship betwee... . Crumble Corporation produces cookies. Here is the relationship between the number of workers and output (in dozens of cookies) in a given day: Workers Output Marginal Product

Income elasticity coefficient, significance of income elasticity coefficien... significance of income elasticity coefficient

Budget Deficits and Surplus, In year one, suppose the federal government ha... In year one, suppose the federal government has no national debt and spends $100 billion, while raising only $50 billion in taxes. The U.S. Treasury will issue $ billion of governm

Marginal output, If the marginal product of labor is 45 units of output and... If the marginal product of labor is 45 units of output and the marginal products of capital is 56 units of output while the wage rate is $20 per worker and the cost of capital is $

Monopolist''s profit-to-revenue ratio, "Take a monopolist with a constant a... "Take a monopolist with a constant average cost. The higher is the elasticity of demand at the chosen monopoly price, the higher is the monopolist's profit-to-revenue ratio." Expla

The law diminishing marginal utility, the law diminishing marginal utility ... the law diminishing marginal utility explain through flow chart

Consumer equullibruim, income=100 price of x=5 price of x2=10 find consumer... income=100 price of x=5 price of x2=10 find consumer equilibrium with diagram

Monopolistic competition and oligopoly, Monopolistic Competition and Oligop... Monopolistic Competition and Oligopoly: It was recognized that most industries exhibit the features of monopolistic competition in real-life. However, it must be pointed out t

Capital intensive operations, Where minimum efficient scale is very huge fo... Where minimum efficient scale is very huge for capital intensive operations, it may be more cost effective to allow one company to spread its fixed costs over a very huge number of