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Meaning and Functions of Money — Economics STD 10 — Question

ICSE BoardEnglish MediumSTD 10EconomicsMeaning and Functions of Money2 Marks
Question
State two characteristics of money.
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Answer

Two characteristics of money are:
(i) General Acceptability : Money is commonly/generally accepted a medium of exchange.
(ii) Liquidity : Money is the most liquid asset, i.e, it can be easily converted into any commodity or asset.

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