The most important attribute of money is?

Assessment: JAMB UTME - Economics - 2020 Subject: Economics

Question 1 Report

The most important attribute of money is?
Answer Details
The most important attribute of money is "general Acceptance." This means that a currency is widely accepted as a medium of exchange for goods and services. This attribute is essential for money to effectively serve its purpose, which is to facilitate transactions between parties. If a currency is not widely accepted, it will not be able to perform this function, and thus will not be useful as money. General acceptance is what gives money its value and makes it a useful tool for economic exchange.
Read lesson note on Money And Inflation (WAEC)
View Answer

Related Questions

1

The Nigerian bank for commerce and industry is?
2

Economics is often described as a social science because?
3

Which of the following is an example of aninvisibleitem on the balance of payments account
4

Which of the following is used by the central bank to control the rate of interest
5

A major factor affecting the value of money is the?
6

To control inflation, the monetary authorities of a country can
7

Scarcity in economics means?
8

What form of market is found in an imperfect competition where there are few buyers and many sellers

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning