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Questions and Answers
Money is a medium of exchange
Money is a medium of exchange
True (A)
What is the major factor influencing demand?
What is the major factor influencing demand?
Cost
Which of the following is not a characteristic of money
Which of the following is not a characteristic of money
- Durability
- Divisibility
- Perishability (correct)
- Transparent (correct)
--------------- is quantity of goods that a buyer is willing and is able to purchase at a particular price within a given period of time
--------------- is quantity of goods that a buyer is willing and is able to purchase at a particular price within a given period of time
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Land and capital are factors of production?
Land and capital are factors of production?
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Which of the following is not a micro factor to consider in a business operation?
Which of the following is not a micro factor to consider in a business operation?
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What is the main function of money
What is the main function of money
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Study Notes
Economics Basics
- Money serves as a medium of exchange.
Demand Factors
- The major factor influencing demand is the willingness and ability of a buyer to purchase a certain quantity of goods at a particular price within a given period of time.
Characteristics of Money
- Land and capital are factors of production.
- The characteristics of money do not include _______________________ (answer not provided).
Business Operations
- Micro factors to consider in a business operation do not include _______________________ (answer not provided).
Functions of Money
- The main function of money is to facilitate exchange.
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