This characteristic means that the item used as money retains its phyhsical structure and institutional value. General Acceptability: ADVERTISEMENTS: It is the very essence of money. Durables is a category of consumer goods that do not have to be purchased frequently. I think durability of composite decking is a perception issue. Money is durable. With the ongoing fraudulent issues associated with counterfeit money, it is important to be familiar with these categories. ... TOM: Thanks so much for calling us at 888-MONEY-PIT. Answer (1 of 17): The characteristics of money can be divided into six different categories: Durability, portability, divisibility, uniformity, limited supply, and acceptability. Money is recognizable. Some examples of durables are appliances, home and office furnishings, lawn and … Medium of Exchange First and foremost, money acts as a medium of exchange that facilitates commercial transactions. If money is not recognizable by the general public then it cannot be called money. A) Units of money do not expire after a certain time limit. This requires a coincidence of wants and is extremely inefficient. Divisibility 6. It should not lose its value with the passage of time. Durable banknote papers Banknote paper with enhanced durability is a recent development, designed to meet the growing need for popular low-denomination banknotes to withstand extreme wear. All the great aspects of quartz—durability, non-porous, ability to custom design—come with a cost. Durability: Money should be durable. Term durability Definition: One of four characteristics that enables an asset to better function as money.The other three are transportablity, divisibility, and non-counterfeitability. Portability 3. 47) Which of the following best describes the durability characteristic of money? Recognizable: Good money is recognized either by sight or touch. 48) Which of the following best describes the stability characteristic of money? Cognizability 8. If you think that there is zero maintenance – “I’m never going to have to do anything at all” – you’re not going to find any product like that. Unless a person knows […] It is a common myth that traditional economies usually functioned on a system of barter such that goods were directly exchanged. ADVERTISEMENTS: Top eight qualities of an ideal money material are: 1. Everyone must find it very easy to recognize it and know its value. By being durable, money does not easily wear out or deteriorate. The printing of notes is secret. Homogeneity 5. The gold and silver coins do not wear out quickly and quality of money remains the same. Money is a medium of exchange that market participants use to engage in transactions for goods and services. An ideal money material should possess the following qualities: 1. 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