Properties




To fulfill its various functions, money must have certain properties:

  • Fungibility: its individual units must be capable of mutual substitution (i.e., interchangeability).
  • Durability: able to withstand repeated use.
  • Divisibility: divisible to small units.
  • Portability: easily carried and transported.
  • Cognizability: its value must be easily identified.
  • Scarcity: its supply in circulation must be limited.

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