In order for money to work properly, the different pieces of currency in an economy should look similar to each other. This is an element of which characteristic of money?

A.) Limited supply
B.) Divisibility
C.) Acceptability
D.) Uniformity

In order for money to work correctly, the different pieces of currency in an economy should look similar to each other. This is an element of the Uniformity of money. Hence, Option D is correct.

What is currency?

When a person wants to market or wants to purchase anything, it can be for self, or for a family member or for a friend, or for anyone else, they have to pay a certain amount of money and that money is known as the currency. Just like each nation has its own language, similarly, they also have its own currency.

For instance, if a person wants to buy or purchase anything in India, they have to use the Indian Rupee which is the currency of India, If one is in Saudi Arabia, they will use Saudi Riyal, and many more. There is a market which is known as the free market, in that market gold is also considered a currency. For smooth functioning of the currency, there should be uniformity of money.

Thus, Option D is correct.

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In order for money to work properly, the different pieces of currency in an economy should look similar to each other. This is an element of which characteristic of money? A.) Limited supply B.) Divisibility C.) Acceptability D.) Uniformity

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What is currency?

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In order for money to work properly, the different pieces of currency in an economy should look similar to each other. This is an element of which characteristic of money?

A.) Limited supply
B.) Divisibility
C.) Acceptability
D.) Uniformity