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TRANSPORTABLITY: One of four characteristics that enables an asset to better function as money. The other three are durability, divisibility, and non-counterfeitability. This characteristic means that the item used as money can be easily moved from one location to another, which is extremely useful because markets tend to be scattered all over the place. It really helps if buyers can transport their money to the points of purchase. An item could not be effectively used as a medium of exchange if it were not easily transportable.
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COMMODITY MONEY A medium of exchange (money) that has both value in use and value in exchange. Commodity money is first and foremost a commodity that provides users with satisfaction of their wants and needs. However, it also has the secondary function of acting as a medium of exchange for the economy. In the march toward economic complexity, commodity money emerged from barter exchanges, but then ultimately gave way to modern fiat money.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale looking to buy either a coffee cup commemorating the first day of spring or a printer that works with your stockpile of ink cartridges. Be on the lookout for defective microphones.
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This isn't me! What am I?
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"Being defeated is only a temporary condition; giving up is what makes it permanent." -- Marilyn vos Savant, Author
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TIAC
Thrift Institutions Advisory Council
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