Unit 3 - Microeconomic decision makers Flashcards by Aiden_Seung_Woo Lee | Brainscape

Q

Barter System

A

Exchanging a g+s for another g+s

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Functions of money

A

Medium of exchange
Measure of valure
Store of value
Standard of deferred payments

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Characteristics of money

A

(DDAPUS)

Divisibility
Durability
Accountability
Portability
Uniformity
Scarcity

HOWEVER money lacks intrinsic value.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly