What functions include of money, Microeconomics

Assignment Help:

The functions of money include; (1)  medium of exchange,  (2)  store of value, and (3)  a calculate of worth.  Due to money is acceptable as a form of payment for all commodities, barter is no longer Required.  Money can be easily stored in a tin can or bank account, so commodities require not be stored and can be purchased when needed.  Because money is acceptable in virtually all transactions, prices can be stated in terms of dollars or yen thereby simplifying transactions substantially.  In other words, money is the grease that lubricates any difficult economic system

 


Related Discussions:- What functions include of money

1, price falls and demand is elstic

price falls and demand is elstic

Case study of growth of regional financial institutions, Case Study - EUROP...

Case Study - EUROPE   Let us now see how events unfolded over the decades in Europe that led to monetary unification in terms of a single currency and single central bank. At

What do you mean by externality, Q. What do you mean by Externality? An...

Q. What do you mean by Externality? An externality exists when the actions of one individual affect the wellbeing of other individuals without any compensation taking place. F

Explain about non-renewable resources, How the above would apply to non-ren...

How the above would apply to non-renewable resources such as oil. This has general applicability to any competitive market. The issue here is that potential supply has a finite

Change in the rate of population growth, Should the manufacture, supply and...

Should the manufacture, supply and use of tobacco be criminalised? Provide arguments for and/or against (relates to defining crime; concepts of deviance etc) Examine t

Expected utility - consumer choice involving risk, Expected Utility: T...

Expected Utility: Theory Assume that a utility index exists which conforms to the five axioms. The expected utility for the two-outcome lottery L = (P, A, B) is given by,

Describe consumer price index, Q. Describe Consumer Price Index? Consum...

Q. Describe Consumer Price Index? Consumer Price Index:Consumer price index (CPI) is a measure of overall price level paid by consumers for various services and goods they purc

How to solve major economic problem as a CS engineer, how to solve major ec...

how to solve major economic problem as a computer engineer

Different pricing strategies of firms under oligopoly, Problem : (a) W...

Problem : (a) With reference to the characteristics of market structure, explain why the market for powdered milk in Mauritius is an appropriate example of monopolistic compet

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd