10HUMS - The characteristics and functions of money
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Horizontales
Some needs, such as the need for a laptop, are s__________ a need.
A m_____ is any situation in which potential buyers are in contact with potential sellers and there is a means of exchange.
Money is a u____ o__ a______. This means that money can be used to measure the market value of a particular good or service.
G____ are items that are tangible (usually) and are able to be sold in a market.
One characteristic of money is that it's d_________ (ie, it can be broken down into smaller parts; eg, notes and coins).
One characteristic of money is that it's difficult to c_________ (ie, it's difficult to make illegal copies that can't be distinguished from real money).
N_____ are things that human beings require in order to survive.
One characteristic of money is that it's f_________ (ie, it's interchangeable; eg, one $5 note is worth the same as another $5 note).
Some needs, such as the need for water, are o__________ a need.
Money is a standard of d_________ p_________. This means that goods and/or services can be acquired in the present in return for a promise of monetary payment in the future.
Verticales
S________ are intangible activities that are able to be sold in a market.
L____ t_____ is something that's officially recognised
by a legal system as being an acceptable way to pay off a
person's debts under a contract.
A m______ o__ e_________ is a method of payment for goods and services.
One characteristic of money is that it's h_________ (ie, it's uniform; eg, every $10 note looks the same).
One characteristic of money is that it's p___________ (ie, it can be moved easily).
One characteristic of money is that it's relatively s___________ (ie, there's a limited amount of it).
One characteristic of money is that it's d_________ (ie, it's longlasting).
Money is a s_____ o__ v_____. This means that individuals can hoard their wealth in the form of money without the value of this money decreasing.
W____ are things that human beings desire, but do not require in order to survive.
One way to help reduce spending when creating a budget is to reduce the n_____ of wants.
How much m____ someone has can affect whether something is a need or a want, from a subjective perspective.
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