Qualities/ Characteristics/ Features of good money

Qualities/ Characteristics/ Features of good money

1. General acceptance

The necessary quality of a good money is that it should be acceptable without any hesitation in the exchange for goods and services.

2. Portability

It is also an important quality of good money. Money should be easily transferable from place to another.

3. Storability

Money should be storable and it should not depreciate with time. If the money is perishable, it will loose it’s value in a few days.

4. Divisibility

The money which can be divided into small units without loosing any value is good money.

5. Durability

Money should be durable. It shouldn’t loose it’s value with the passage of time.

6. Economy

It is also an important quality of good money. Money should be made economically. Good money is that which has low cost and more supply.

7. Uniformity
Money should be homogeneous. It’s unit should be identical. For ex all 10 rupees notes should be identical in shape, size, weight and content.