The term characteristics mean features. For a commodity to perform as money it has to have the following characteristics
Acceptability of money must be acceptable foot it to be used as a medium of exchange.
Portability money should be convenient to carry around therefore it has to be light and not bulky.
Durability money should be able to last for a long time without getting torn, destroyed, defaced or losing its texture and shape. The material used to make money should be of quality that does not wear or tear with ease.
Divisibility money should be divisible into smaller denominations without loss of value hence enabling people to carry out transactions that require little amounts of money as well as those requiring large amounts of money. Kenyan currency is available in units as sh 1000, 500, 200, 100, 50, 40, 20,10 5, 1 and units of fifty cents.
Malleability the material used to make currency and coins should be easy to cast into the required shapes.
Scarcity money should be relatively scarce in supply. if money were abundant in supply then it would lose value.
Homogeneity of money of same denominations should be uniform in quality and therefore identical hence making it more recognizable and hence acceptable.
Stability in value money should be able to last for a long time without changing in value so that it maintains credibility and acceptability. Money that fluctuates in value makes people want to hold more wealth in form of goods.
Cognoscibility money should be easily recognized. it should be easy to differentiate between genuine and fake money. the material used to make money shouldn’t be readily available
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