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JAMB Economics 1984 Question 31

Question 31

Money and Inflation

The most important characteristic of money is

  1. A.portability
  2. B.intrinsic value
  3. C.acceptability
  4. D.usefulness
  5. E.beauty.
Show the answer and explanation

Answer: C (acceptability)

Explanation

Anything can serve as money only if people generally accept it in payment.