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BUSI 1000 Chapter 14 Questions with complete solution 2023/2024
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BUSI 1000 Chapter 14 Questions with complete solution 2023/2024What are the characteristics of money? - correct answer Portable: lightweight and easy to handle. Divisible: easily broken down to match the value of goods. Durable: must not spoil or easily wear out. Stable: must be stable enough to hold its value over time, apart from minor fluctuations. What are the functions of money? - correct answer Medium of exchange: it's used to trade goods and services instead of barter. Store of value: it can be saved and used for future purchases. Unit of account: it lets us measure the relative value of goods and services.
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busi 1000 chapter 14 questions
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