Economics: Understanding Money

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Questions and Answers

Money is a medium of exchange

True (A)

What is the major factor influencing demand?

Cost

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

Demand Signup and view all the answers

Land and capital are factors of production?

True (A) Signup and view all the answers

Which of the following is not a micro factor to consider in a business operation?

Gorvenment policy (B), Technology (C) Signup and view all the answers

What is the main function of money

Medium of exchange Signup and view all the answers

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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Description

Test your knowledge on the concept of money as a medium of exchange. Learn about the role of money in economics and its importance in our daily lives.