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Name and describe the essential functions of money.
Weegy: These are the 4 essential functions of money: Medium of Exchange: acts as a medium of exchange hence permits a time interval between buying and selling commodities; thus eliminates need for a ?double coincidence of wants? implied by bartering, [ as one can sell goods and services without simultaneously purchasing. (Most important) Store of Value: Able to perform function as Medium of Exchange because it retains value over time. ... (More)
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Expert Answered
Asked 7/3/2013 12:44:09 PM
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Define barter
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Updated 8/7/2013 10:23:46 PM
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Barter - Exchange (goods or services) for other goods or services without using money

Added 8/7/2013 10:23:46 PM
What is commodity money? User: Define barter
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Updated 8/7/2013 10:25:31 PM
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Commodity money is money whose value comes from a commodity out of which it is made. It is objects that have value in themselves as well as for use as money.

[en.wikipedia.org/wiki/Commodity_money]
Added 8/7/2013 10:25:31 PM
What is fiat money?
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Updated 7/5/2013 9:35:40 PM
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Fiat money
-is money that derives its value from government regulation or law. The term fiat currency is used when the fiat money is used as the main currency of the country. The term derives from the Latin fiat ("let it be done", "it shall be").

Added 7/5/2013 9:36:09 PM
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