- Medium of exchange
- Goods and services can be traded more efficiently using money compared to bartering
- Allows of specialisation and division of labour
- Store of Value
- Money is an Asset whose value can be retrieved in future
- Transfers purchasing power between time periods
- Unit of account
- Allows you to express the value of good in a clear and meaningful way
- Standard of deferred payment
- Money must be acceptable and seen as holding its future value
- Portable
- Divisible
- Durable
- Limited in supply
- Acceptable to majority
- Difficult to forge