Edexcel AS Level Economics (A) Paper 1 exam with questions and correct verified answers// Economics AS level What are the 6 characteristics of money? (PUDDLE) - CORRECT ANSW-*Portability* - Portability is that money must b

Edexcel AS Level Economics (A) Paper 1 exam with questions and correct verified answers// Economics AS level What are the 6 characteristics of money? (PUDDLE) - CORRECT ANSW-*Portability* - Portability is that money must be able to go wherever such that it is easy to transport as people travel. *Uniformity/can't be counterfeited* - Uniformity of money calls for a standardization of money so that it looks the same and can't be faked of counterfeited *Durability* - Durability of money is such that it can be used over and over again; hence it must survive wear and tear for long periods. *Divisibility* - Money must be easily divided into smaller denominations to enable a person to buy different products. *Limited supply/valuable* - Money must be available only in limited quantities to maintain its value *(Easily) Acceptible* - Everyone must be able to accept money in exchange for goods or services What are the four factors of production? - CORRECT ANSW-'Land' - all natural resources including oil, fish, soil, forests. The reward for land is rent.