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What are the characteristics of Money?

Answer Text:
Definition of money:
Money is anything that is generally accepted and used as a medium of exchange for goods and services.
Features/ characteristics of Money:
Durability: The material used to make money must be able to last long without getting torn, defaced or losing its shape or texture.
Cognizability: The material used to make money should be easily recognized.
Homogeneity: Money should be made using a similar material so as to appear identical. This eliminates any risk of confusion and forgeries.
Portability: - Money should be easy to carry regardless of its value.
Malleability- the material used to make money should be easy to cast into various shapes.
Liquidity: - it should be easily convertible to other forms of wealth (assets).
Divisibility: Money should be easily divisible into smaller units (denominations) but still maintains it value.