Question
What is a good response to the Information below?opinion on the Information Money are tangibleassets that people aregenerallywilling to accept in exchange for goods and
What is a good response to the Information below?opinion on the Information
Money are tangibleassets that people aregenerallywilling to accept in exchange for goods and services or forpayment of debts.Anassetis anything of value owned by a person or a firm. There are five key features that are required to be considered money are;
1.It must be acceptable to most people.
2.It should be of standardized quality.
3.It should be durable.
4.It should be valuable relative to its weight
5.It should be divisible.
A few items in history used for currency include around the world; salt, different types of stones, shells, chocolate and animal pelts.
I do not believe Bitcoin and other cyber-currencies should be considered money.As outlined in the reading money has to have the five key features listed above.When it comes to debit or credit cards they are not considered money by economists as well as it is the physical form of the money in hand but provides access to the accounts that have the money.
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