Money – greatest invention by man 8.

Durability – it can stand with the

Forms: normal tear and wear
1. Precious metals (gold & silver – 9. Elasticity of Supply – amount of
penniform/gold ring) money in the circulation which
2. Bar of salt could be increased or decreased
3. Pearls depending on the policy
4. Antique beads provided by DTI
5. Manojo of palay 10.Stability of Value – change in
6. Cattle the value of money being
circulated. The stability is under
Caravan Trade – land the control of the Bangko
Galleon Trade – seas Sentral
11.
Tydings – McDuffie Act
2 dollars – 1 peso
80% of the Philippine resources
goes to United States
exclusively

Initial Characteristics of Money

1. Utility – accepted anywhere,
useful, must possess intrinsic
value
2. General Acceptability – allows
passage from one hand to
another hand
3. Portability – there must be an
easy carriage of money
4. Uniformity – must have the
same size for easy recognition
5. Malleability – melted down and
shaped into different forms as
well as imprinted with any
desired design
6. Divisibility – can be cut into
smaller patterns
7. Cognizability – easily
recognized by children even
unschooled people