There are many good qualities found in modern currency.

Question

State with reasons whether you agree or disagree with the statements:

There are many good qualities found in modern currency.

Answer 1

Yes, I agree with the statement. There are many good qualities found in a modern currency like:

• General Acceptability: It must be generally accepted as a medium of exchange.
• Stability: The purchasing power of money should be stable because money serves as a store of value. 
• Cognizability: It must be easily recognizable or identifiable. For E.g Notes of different denominations must be of different sizes, colours, etc. so that they can be easily identified. 
• Durability: Money should be durable also i.e. its value should not fluctuate too much. 
• Divisibility: Money should be divisible into units of smaller denominations.
• Portability: It should be easy to handle and carry from one place to another.
• Homogeneity: Money of the same denomination should be identical in shape, size, colour, etc.