Asked by
michelle antonia
on Oct 12, 2024
Verified
The major consideration of whether something can serve as money is that it must be
A) redeemable in precious metals such as gold or silver.
B) printed by each nation's government or banking authority.
C) freely available to all who want it.
D) exchangeable for other types of money.
E) acceptable as a means of payment.
Means of Payment
Various methods through which debts can be paid, ranging from physical currency to electronic transfers of funds.
Precious Metals
Metals that are rare and have high economic value, such as gold, silver, and platinum.
- Develop an understanding of the concept and duties of money, including its employment as a means of transaction, a standard for value assessment, and a holder of value.
- Understand the criteria and considerations for something to serve as money.
Verified Answer
EW
Learning Objectives
- Develop an understanding of the concept and duties of money, including its employment as a means of transaction, a standard for value assessment, and a holder of value.
- Understand the criteria and considerations for something to serve as money.